What ‘pledge’ is written on the notes issued by Reserve Bank of India.
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I promise to pay the bearer the sum of one hundred rupees.
Taken by the governor of Reserve Bank of India.
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The Reserve Bank of India (RBI) is authorized to print a pledge on all the Indian Currency notes issued in India. A declaration by the RBI Governor is written on the notes “I Promise to pay the bearer sum of 100 Rupees”.
It denotes that if a person is owning a 100 Rupees notes, it is the duty of the RBI to pay the bearer goods/gold of 100 rupees at any cost.
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