Question

what is the chief feature of the modern currency​

Answer 1

Answer:

The chief feature of modern currency is that they are either in the form of currency notes or coins which are authorised by the central bank of India, which is the Reserve Bank of India( RBI).

Also, this is universal and widely accepted as a mode of payment which cannot be refused by any authority whatsoever.

Answer 2

Answer:

The currency or note form that is authorized by RBI  

Explanation:

It in 3 forms, all these forms are accepted universally. The 3 forms are as follows:

1. Metallic Money,  
2. Paper Money, and  
3. Credit Money.

Metallic Money:

• This coins that are made up of gold, silver, bronze, nickel, etc,.

Paper Money:

• Issued by the state treasury or the central bank of the country in the form of currency notes.

Credit Money:

• Development with banking money activity with paper money useful for conversion in to other form of bank money.