Question

what monitory system does india follow​

Answer 1

Answer:

In India the monetary authority is Reserve Bank of India (RBI) which has adopted a standard currency made of paper.

Answer 2

In India the monetary authority is Reserve Bank of India (RBI) which has adopted a standard currency made of paper. That is why India is said to be on a paper currency standard.Following points need to be noted in this regard. (i) Paper currency is the main currency of the country.

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