Indian Currency Design Mechanism

Question 1

____ and the ____ decide the changes in the design and form of bank notes and coins.

Answer 1

Reserve Bank of India (RBI) & Central Government

Question 2

(?), gives RBI the “sole right” to issue banknotes in India.

Answer 2

Section 22 of The Reserve Bank of India Act, 1934

Question 3

____ states that “the design, form, and material of bank notes shall be such as may be approved by the Central Government after consideration of the recommendations made by the RBI’s Central Board”.

Answer 3

Section 25

Question 4

____, has the responsibility of administering the core function of currency management.

Answer 4

RBI’s Department of Currency Management

Question 5

RBI’s Department of Currency Management, currently headed by

Answer 5

Deputy Governor :– Shri T. Rabi Sankar

Question 6

____ gives the central government the power to design and mint coins in various denominations.

Answer 6

The Coinage Act, 2011

Question 7

Coins are minted in four mints owned by the Government of India in

Answer 7

Mumbai, Hyderabad, Kolkata and Noida

Question 8

Two of India’s currency note printing presses (____ , ____) are owned by the Government of India

Answer 8

Nasik and Dewas

Question 9

Two others (____ , ____) are owned by the RBI through its wholly owned subsidiary, (?).

Answer 9

Mysore and Salboni ; Bharatiya Reserve Bank Note Mudran Ltd (BRBNML)

Question 10

The first banknote issued in independent India was the

Answer 10

Re 1 note issued in 1949

Question 11

Re 1 note issued in 1949 had retaining the existing design, the new banknotes replaced the portrait of (?) with the symbol of the____

Answer 11

King George , Lion Capital of the Ashoka Pillar at Sarnath

Question 12

The ____ notes highlight the cultural heritage and scientific achievements of the country.

Answer 12

Mahatma Gandhi (New) Series, 2016

Question 13

The Rs 500 and Rs 1,000 notes of this series were withdrawn w.e.f. the midnight of

Answer 13

November 8, 2016