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Q.

Paper currency first started in India in:

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a

1861

b

1542

c

1601

d

1880

answer is A.

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Detailed Solution

The paper currency notes were first started in India in 1861.

The Paper Currency Act of 1861 granted the government the exclusive right to print and distribute notes throughout the enormous territory of British India.

The Indian government passed the Paper Currency Act in 1861, granting it exclusive authority to print and distribute paper money.

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