Question

Why one cannot refuse a payment made in rupees in India

Answer 1

Because it is accepted as a medium of exchange. The currency is authorized by the government of the country.

Answer 2

One cannot refuse a payment made in rupees in India because of the following reasons.

• It is the national currency of India.
• All the monetary transactions are made in INR i.e.Indian National Rupee.
• RBI ( Reserve Bank of India ) has issued this currency on the behalf of the central government.
• The law has legalized using rupee for any monetary transactions which cannot be denied or refused on any condition.
• No other organization can issue the currency except RBI.