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Read the below case and answer the question that follow:
In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.
Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.
Q. ______________ is issued by the government of India.
- a)Coins
- b)₹500 note
- c)₹1000 note
- d)All of these
Correct answer is option 'A'. Can you explain this answer?
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It is the sole responsibility of the Government of India to mint coins of all denominations.
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Understanding Legal Tender in India
Demonetisation is a significant economic policy that affects the currency in circulation. The question asks about which currency is issued by the government of India, particularly in the context of the demonetisation announcement.
Types of Currency Issued
- The Reserve Bank of India (RBI) is responsible for issuing all currency notes and coins in India. However, there are distinctions between different forms of currency.
Coins
- Coins are indeed issued by the government of India and are considered legal tender. They come in various denominations and are used for everyday transactions.
₹500 and ₹1000 Notes
- The ₹500 and ₹1000 notes mentioned in the case were demonetised, meaning they ceased to be legal tender as of the PM's announcement. These notes are not worthless but were invalidated as legal currency for transactions.
Conclusion
- Among the options provided, the correct answer is option 'A' (Coins) because they are the only form of currency that is consistently issued and retains its status as legal tender post-demonetisation. The ₹500 and ₹1000 notes, while previously issued by the government, were rendered worthless as effective currency after the announcement.
Summary
- In summary, while coins are issued by the government and remain legal tender, the ₹500 and ₹1000 notes were demonetised and are no longer valid for transactions. This highlights the importance of understanding which forms of currency are recognized as legal tender in economic activities.
Demonetisation is a significant economic policy that affects the currency in circulation. The question asks about which currency is issued by the government of India, particularly in the context of the demonetisation announcement.
Types of Currency Issued
- The Reserve Bank of India (RBI) is responsible for issuing all currency notes and coins in India. However, there are distinctions between different forms of currency.
Coins
- Coins are indeed issued by the government of India and are considered legal tender. They come in various denominations and are used for everyday transactions.
₹500 and ₹1000 Notes
- The ₹500 and ₹1000 notes mentioned in the case were demonetised, meaning they ceased to be legal tender as of the PM's announcement. These notes are not worthless but were invalidated as legal currency for transactions.
Conclusion
- Among the options provided, the correct answer is option 'A' (Coins) because they are the only form of currency that is consistently issued and retains its status as legal tender post-demonetisation. The ₹500 and ₹1000 notes, while previously issued by the government, were rendered worthless as effective currency after the announcement.
Summary
- In summary, while coins are issued by the government and remain legal tender, the ₹500 and ₹1000 notes were demonetised and are no longer valid for transactions. This highlights the importance of understanding which forms of currency are recognized as legal tender in economic activities.
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Read the below case and answer the question that follow:In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.Q. ______________ is issued by the government of India.a)Coinsb)₹500 notec)₹1000 noted)All of theseCorrect answer is option 'A'. Can you explain this answer?
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Read the below case and answer the question that follow:In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.Q. ______________ is issued by the government of India.a)Coinsb)₹500 notec)₹1000 noted)All of theseCorrect answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the below case and answer the question that follow:In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.Q. ______________ is issued by the government of India.a)Coinsb)₹500 notec)₹1000 noted)All of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the below case and answer the question that follow:In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.Q. ______________ is issued by the government of India.a)Coinsb)₹500 notec)₹1000 noted)All of theseCorrect answer is option 'A'. Can you explain this answer?.
Read the below case and answer the question that follow:In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.Q. ______________ is issued by the government of India.a)Coinsb)₹500 notec)₹1000 noted)All of theseCorrect answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the below case and answer the question that follow:In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.Q. ______________ is issued by the government of India.a)Coinsb)₹500 notec)₹1000 noted)All of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the below case and answer the question that follow:In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.Q. ______________ is issued by the government of India.a)Coinsb)₹500 notec)₹1000 noted)All of theseCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Read the below case and answer the question that follow:In a 40-minute long speech Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹ 500 and ₹ 1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹ 500 and ₹ 1,000 will not be legal tender from midnight tonight and these will be “just worthless pieces of paper''. The PM also urged people to ‘join this mahayojna against the ills of corruption.Q. ______________ is issued by the government of India.a)Coinsb)₹500 notec)₹1000 noted)All of theseCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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