UPSC Exam > UPSC Questions > Who issues metallic coins in India?a)RBIb)Gov...
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Who issues metallic coins in India?
- a)RBI
- b)Government of India
- c)Banks and financial institutions
- d)Any of the above can issue it.
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks a...
The Government of India issues metallic coins in India. Coins, paper currency and deposits are the components of money supply in India.
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Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks a...
Issuance of Metallic Coins in India
Metallic coins are the physical currency that plays an important role in the economy of any country. In India, the issuance of metallic coins is carried out by the Government of India.
Role of Government of India
The Government of India has the sole authority to issue coins in the country. The Ministry of Finance, under the Coinage Act, 2011, regulates the minting and distribution of coins, while the production of coins is carried out by four mints located in Mumbai, Kolkata, Hyderabad, and Noida.
Denominations of Coins
The denominations of coins in India include 50 paise, 1 rupee, 2 rupees, 5 rupees, and 10 rupees. The coins are made of various metals like stainless steel, nickel, copper, and zinc.
Circulation of Coins
Coins issued by the Government of India are legal tender in the country. The Reserve Bank of India is responsible for the distribution of coins to various banks and financial institutions. These coins are then circulated among the general public through these institutions.
Conclusion
In conclusion, while the Reserve Bank of India plays a crucial role in the distribution of coins, it is the Government of India that has the authority to issue metallic coins in the country. This ensures that the production, distribution, and circulation of coins are carried out in a regulated and efficient manner, contributing to the stability of the Indian economy.
Metallic coins are the physical currency that plays an important role in the economy of any country. In India, the issuance of metallic coins is carried out by the Government of India.
Role of Government of India
The Government of India has the sole authority to issue coins in the country. The Ministry of Finance, under the Coinage Act, 2011, regulates the minting and distribution of coins, while the production of coins is carried out by four mints located in Mumbai, Kolkata, Hyderabad, and Noida.
Denominations of Coins
The denominations of coins in India include 50 paise, 1 rupee, 2 rupees, 5 rupees, and 10 rupees. The coins are made of various metals like stainless steel, nickel, copper, and zinc.
Circulation of Coins
Coins issued by the Government of India are legal tender in the country. The Reserve Bank of India is responsible for the distribution of coins to various banks and financial institutions. These coins are then circulated among the general public through these institutions.
Conclusion
In conclusion, while the Reserve Bank of India plays a crucial role in the distribution of coins, it is the Government of India that has the authority to issue metallic coins in the country. This ensures that the production, distribution, and circulation of coins are carried out in a regulated and efficient manner, contributing to the stability of the Indian economy.
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Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks a...
Indian currency is issued by RBI on the behalf of government of India
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Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks and financial institutionsd)Any of the above can issue it.Correct answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks and financial institutionsd)Any of the above can issue it.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks and financial institutionsd)Any of the above can issue it.Correct answer is option 'B'. Can you explain this answer?.
Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks and financial institutionsd)Any of the above can issue it.Correct answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks and financial institutionsd)Any of the above can issue it.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Who issues metallic coins in India?a)RBIb)Government of Indiac)Banks and financial institutionsd)Any of the above can issue it.Correct answer is option 'B'. Can you explain this answer?.
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