10th Class Social Science Money and Credit

  • question_answer 1) Look at a 10 Rupee note. What is written on top? Can you explain this statement?  

    Answer:

    The following words are written at the top of a 10 rupees note ‘I Promise To Pay The Bearer The Sum Of Ten Rupees.'Governor' Reserve Bank of India Guaranted by the Central Government'. A 10 Rupee note is acceptable as a medium of exchange because this is authorized by the government of the country. In India, the Reserve Bank of India issues currency notes on behalf of the Central Government. As her Indian Law, no other individual or organization is allowed to issue currency.  

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