Rbi
This query is : Resolved
16 January 2014
CAN ANYONE TELL, WHY RS 1 NOTE IS ISSUED BY GOVERNMENT OF INDIA AND NOT BY RBI....?
16 January 2014
Reserve Bank Of India was established in 1935, and was nationalised in 1949. Prior to that all notes were issued on behalf of CROWN by Finance Ministry, the ultimate monetary authority for Indian Currency. subsequent to delegating the currency issuing function to RBI, all higher denomination notes were issued by RBI. Only as a matter of convention the one rupee note continued to be signed by Finance Secretary. Probably prior to 1949 one rupee note was the highest denomination note in circulation.
Message likes :
1 times
17 January 2014
in addition to nice explanation by Avtar, you may also read this to further enrich your knowledge of history of currency notes in relation to RBI.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Import license renewal
- GST ON EXPORT COMMISSION
- Inventory of finished goods
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
