What is the highest denomination of banknote that can be issued under the Reserve Bank of India Act, 1934 without amending it?
- A.Rupees two thousand
- B.Rupees five thousand
- C.Rupees ten thousand
- D.Rupees one lakh
Show answer
Section 24 of the Reserve Bank of India Act, 1934 permits banknotes of denominations up to ten thousand rupees, so a note of a higher value would need an amendment of the Act by Parliament.
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