Question

Why only RBI is allowed to issue currency.... Can there be two or more banks who can issue currency????

Answer 1

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Answer 2

Answer:

RBI as Currency Issuing Authority of India! The Reserve Bank has the sole right to issue currency notes, except one rupee notes which are issued by the Ministry of Finance. ... The RBI follows a minimum reserve system in the note issue. Initially, it used to keep 40 per cent of gold reserves in its total assets.

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