Question

true or false. the state bank of india issues currency notes in india?​

Answer 1

Answer:

FALSE

RBI RESERVE BANK OF INDIA DO SO

Answer 2

It is an incorrect fact that the state bank of India issues currency notes in India. The Reserve Bank of India (RBI) issues currency notes on behalf of the central government.

Features of Reserve Bank of India:

1. The Reserve Bank of India is the central bank of India.
2. It was established on April 1, 1935.
3. The Ministry of Finance overlooks the administration of RBI.

Functions of Reserve Bank of India:

1. The Reserve Bank of India issues currency notes in India.
2. The RBI is responsible for regulating the Banking system in India.
3. It makes sure that all the other banks provide loans to all big businesses as well as small industries.

Hence, the state bank of India is a public sector bank and not a central bank. Thus, it doesn't function as the issuer of currency notes in India.