economicsIn India, the Reserve Bank of India issues the currency on behalf of the[[1]] government.

In India, the Reserve Bank of India issues the currency on behalf of the[[1]] government.


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    Solution:

    In India, the Reserve Bank of India issues the currency on behalf of the central government.
    The Reserve Bank of India has the sole authority to issue the currency. The coins in Indian currency are a part of limited legal tender, while currency notes are a part of unlimited legal tender money. Any person cannot refuse to take their payment up to a certain limit of Rs.1,000, while notes should be accepted for any amount, whether in hundreds or thousands or even more. As per Indian law, no other organisation is allowed to issue Indian currency. According to the court orders, no one can refuse to be paid in rupees within India.
     
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