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Fixed minimum reserve system.
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Who issues currency notes in India on behalf of central government?
Reserve Bank of India(RBI)
Who is responsible for designing and printing of coins in India?
Government of India RBI (Reserve Bank of India) issues currency notes only
Who does sign on Currency Notes greater than Rs1?
RBI Governor
Which cheque works just like a currency note?
Currency notes are promissory notes payable to the bearer on demand.section 31 of RBI ACT provides that no one other than RBI or Central Govt. Can issue a promissory note or bill of exchange payable to bearer on demand...hence no cheque works just as a currency note.
Who sign on 10 rupees note?
the finance secretary of india or rbi governer sig on the currency notes
What is currency chest in bank?
2. Currency ChestsIn order that the Bank's obligations may be satisfactorily discharged without recourse to extensive and frequent physical remittance of notes and coins between various centres, the Bank maintains currency chests of its own at treasuries and branches of the banks at all important centres. In the State of Orissa, there are 130 Currency chests, the list of which is provided in the end. These currency chests are intended to facilitate the distribution, exchange and remittance of notes, including one rupee notes and rupee coins and small coins.(ii) RBI has launched a special drive under its clean note policy to withdraw all soiled and mutilated notes from the members of public and put in its place fresh and clean notes. In order to facilitate the members of public, to exchange such notes, RBI has delegated powers to all the 130 currency chest branches in Orissa to exchange soiled, torn, damaged/ mutilated/ defective notes. Soiled and cut notes should also be accepted over bank counters in payment of Government dues and for credit of accounts of the public maintained with banks. Reserve Bank of India, Bhubaneswar has opened three special counters, two for exchange of soiled notes of all denominations and one solely for exchange of mutilated notes. Notes which have turned extremely brittle or badly burnt, charred or inseparably stuck up together and therefore can not withstand normal handling, are also accepted at RBI Bhubaneswar for adjudication under a Special Procedure.
Who has the sole right to issue paper currency in India?
Reserve Bank of India (RBI)
When was one rupee coin is minted first time in India?
one rupee is a token currency and the other higher notes are backed bu multiples of rupee.
Are the services of rbi taxable under service tax?
mo services provided by rbi are covered under negative list entries
How will you assess performance of RBI in the light of global melt down?
Rbi issues currency, manages it and replace it when the currency becomes old and dilapidated. Currency adds to money supply to the extent of say 10-20% in different parts of india. Rbi also helps to create secondary currency say bank credit thro crr and open market operations and manageing foreign exchange reserves. Banks money with rbi either expands or contracts credit in economy as assessed by rbi from time to time. Thus rbi works thro two departments , issue and banking department and stability of ruppee internally and externally. If its performance in last 50 years is taken into account, rbi has done wonderfully so far. If we consider inflation in last 3 years and also growth rates, one will start doubting its operations to some small extent. It has no control over govt for controlling current ac deficit. Hence no control over it. Besides autonomy to governor is questonable as he is answerable to govt as its employee. Rbi may be said to be successful. Rbi may improve its communication skill in impressing goi and politician thro creativity and innovative tools of communication. Rbi may devise friendly model of statistics and add spice to its presence dr kale
What kolkata wire industries limited are under SEBI and RBI?
Weird Industries Ltd are registered of RBI OR not ?
Who issued government securities in India?
Rbi issues the govt securities in India
