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Consider the following statements.
  1. The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations.
  2. All of India’s currency note printing presses are owned by the Government of India.
  3. The first banknote issued in independent India was the Re 1 note that replaced the portrait of King George with the symbol of the Lion Capital of the Ashoka Pillar at Sarnath.
Which of the above statements is/are correct?
  • a)
    1, 2 
  • b)
    1, 3 
  • c)
    2, 3 
  • d)
    1, 2, 3
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements. The Coinage Act, 2011 gives the cen...
The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations. In the case of coins, the role of the RBI is limited to the distribution of coins that are supplied by the central government.
The government decides on the quantity of coins to be minted on the basis of indents received from the RBI on a yearly basis, the central bank says. Coins are minted in four mints owned by the Government of India in Mumbai, Hyderabad, Kolkata and Noida.
Two of India’s currency note printing presses (in Nasik and Dewas) are owned by the Government of India; two others (in Mysore and Salboni) are owned by the RBI through its wholly owned subsidiary, Bharatiya Reserve Bank Note Mudran Ltd (BRBNML).
Ashoka Pillar Banknotes: The first banknote issued in independent India was the Re 1 note issued in 1949. While retaining the existing design, the new banknotes replaced the portrait of King George with the symbol of the Lion Capital of the Ashoka Pillar at Sarnath in the watermark window.
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Consider the following statements. The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations. All of India’s currency note printing presses are owned by the Government of India. The first banknote issued in independent India was the Re 1 note that replaced the portrait of King George with the symbol of the Lion Capital of the Ashoka Pillar at Sarnath.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements. The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations. All of India’s currency note printing presses are owned by the Government of India. The first banknote issued in independent India was the Re 1 note that replaced the portrait of King George with the symbol of the Lion Capital of the Ashoka Pillar at Sarnath.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements. The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations. All of India’s currency note printing presses are owned by the Government of India. The first banknote issued in independent India was the Re 1 note that replaced the portrait of King George with the symbol of the Lion Capital of the Ashoka Pillar at Sarnath.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements. The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations. All of India’s currency note printing presses are owned by the Government of India. The first banknote issued in independent India was the Re 1 note that replaced the portrait of King George with the symbol of the Lion Capital of the Ashoka Pillar at Sarnath.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?.
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