All In One - Economics

Book: All In One - Economics

Chapter: 3. Money and Credit

Subject: Social Science - Class 10th

Q. No. 4 of Self Assessment

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Which institution in India does authorize, money as a medium of exchange?

Reserve Bank of India (RBI) is the institution that authorizes the money as a medium of exchange. RBI is the central bank of India.

RBI is the central authority that can authorize and issue the currency note and coins which are widely accepted as the medium of exchange. They act on behalf of the central government in most of the financial perspective of the country.

Chapter Exercises

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