UPSC Exam  >  UPSC Questions  >  Consider the following statements. The Coinag... Start Learning for Free
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.
How many of the above statements is/are correct?
  • a)
    Only one 
  • b)
    Only two 
  • c)
    All three 
  • d)
    None
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following statements. The Coinage Act, 2011 gives the cen...
Statement 2 is incorrect.
  • 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.
View all questions of this test
Most Upvoted Answer
Consider the following statements. The Coinage Act, 2011 gives the cen...
's coins are issued by the Reserve Bank of India.
Only the central government has the authority to issue coins in India.
All coins issued by the central government are legal tender in India.

Which of the statements are true?

1. The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations.
2. All of India's coins are issued by the Reserve Bank of India.
3. Only the central government has the authority to issue coins in India.
4. All coins issued by the central government are legal tender in India.

Statement 1 is true. The Coinage Act, 2011 does give the central government the power to design and mint coins in various denominations.

Statement 2 is false. While the Reserve Bank of India does issue a large portion of India's coins, some coins are also issued by other entities such as the Ministry of Finance and various government mints.

Statement 3 is true. Only the central government has the authority to issue coins in India.

Statement 4 is true. All coins issued by the central government are legal tender in India.
Explore Courses for UPSC exam

Top Courses for UPSC

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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?
Question Description
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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect 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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect 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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?.
Solutions 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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of 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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of 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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?, a detailed solution 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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of 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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice 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.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev