Which institution controls the issuance and management of currency in India.
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Answer:
RBI looks after the issuance and management of currency of India.
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Reserve Bank of India (RBI).
Explanation:
The formal credit sector is regulated by the Reserve Bank of India (RBI). Banks and cooperatives form the formal sector. The RBI controls the formal credit sector and lays down the rules and regulations for the working of the banks and cooperatives. The interest rates for loans issued and interest rates to be given for deposits are all monitored by the RBI. The RBI foresees the printing and circulation of currency in India. The government regulates what denominations to circulate.
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