One can refuse a payment made in Indian rupees in our country.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
Modern currency, such as paper notes and coins, is accepted as a medium of exchange because it has been authorised by the government of a country. It is the dollar in the USA, yen in Japan and rupees in India. In India, the rupee is issued by the Reserve Bank of India on behalf of the government. No other organisation can issue currency, and as per the law of our country, no person can refuse payment made in Indian rupees. Thus, currency derives its power from the government. This is the reason why the currency of one country isn't used outside of another country.
The correct statement is no person can refuse payment made in Indian rupees.

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