Economics
Look at a 10 rupee note. What is written on top? Can you explain this statement?
Money & Credit
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Answer
- “Reserve Bank of India”
- “Guaranteed by the Central Government”
- “I promise to pay the bearer the sum of Ten Rupees”
In India, the Reserve Bank of India issues currency notes on behalf of the central government. As per Indian law, no other individual or organisation is allowed to issue currency.
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