eTaxMentor (employee) (217 Points)
10 January 2013Why one rupee note is signed by the ministry of finance?
Is governer has the right to sign this note?
Is there any interference by the RBI?
Rahul Sharma
(Be Always Positive)
(1603 Points)
Replied 10 January 2013
CG has full power to made 1 rupee note or coin as it may think fit, rbi has no power on this.except 1 rupee note or coin all made by RBI
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 10 January 2013
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CG has full power to made 1 rupee note or coin as it may think fit, rbi has no power on this.except 1 rupee note or coin all made by RBI |
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Gaurav Toksha
(Student CA IPC / IPCC)
(73 Points)
Replied 10 January 2013
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Joey Tribbiani
(fdg)
(2010 Points)
Replied 11 January 2013
THE One Rupee Note signifies one unit measure of currency note consisting of 100 paise which can be determined and decided by the Government of India ONLY. The RBI prints currency notes using this unit measure. for eg. if the RBI wants to print a Rs.5/- note, it has to accept the determined value of Rs.5/- as Re.1 X 5. Also as rupess is the currency of our country and only govt has the authority to issue indian currency it has been signed by ministry of finance, all other notes are bearer notes which are signed by governor.So when the note of 2 or more then that says that " I Promise to pey the bearer the sum of ----- rupees", it means that the note is actually a promisary note and will be paid using one rupee note or by coins.
Rohit
(Professor)
(23 Points)
Replied 12 January 2013
One rupee note & Coins are issued by the central goverment due the the reason of smallest currency
If there is a war in india & we want money & other assets we need money rbi has issued only limted money with in the limit of Gols & other securirities So in this case central goverment has the power to issue the One Rupee Currency..
Kumar A. Ranjan
(Student)
(1588 Points)
Replied 04 March 2013
thanks for the information & clarifications...
CAclubindia
