Who issues currency notes in India?

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Government of India

Reserve Bank of India

Commercial Bank

Scheduled Bank

answer is B.

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Detailed Solution

The Reserve Bank of India issues currency notes in India. It has the power to issue currency and notices under the RBI Act 1935, except for coins and one rupee note, which the government of India gives. The Governor of the RBI signs the currency notes except the one rupee note. Hence, the RBI is responsible for printing and managing currency in India. It has sole authority over issuing currency notes; this helps uniform currency notes, allows them to control the money supply, and fights inflation and deflation. It also builds trust among the citizens of the country.

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