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Currency - Bank

When was the rupee first minted in India?
i) After Independence ii) During the reign of Ashoka iii) During the reign of Sher Shah iv) During the Governorship of Lord Bentick

Decimal currency system was adopted in India in the year
i) 1950 ii) 1958 iii) 1956 iv) 1957

The high denomination notes were demonetised in India in
i) 1984 ii) 1977 iii) 2000 iv) None of these

The first one paisa coin under the decimal system was issued in
i) August 1947 ii) January 1950 iii) March 1962 iv) January 1948

What is the main purpose of currency?
i) Currency Chest ii) To spend iii) To save iv) Medium of Exchange

Currency notes of RBI are backed by certain assets. These assets must not be less than a prescribed amount of
i) Gold ii) Government Securities iii) Gold, Foreign and Government Securities iv) Gold and foreign securities

Devaluation of currency refers to
i) Government withdrawal of a currency note of a denomination
ii) Decrease in the external value of money
iii) Decrease in the internal value of money
iv) Decrease in both internal and external value of money

Inflation implies
i) rise in budget deficit ii) rise in money supply iii) rise in prices of consumer goods iv) rise in general price index

The former name of State Bank of India was
i) Central Bank of India ii) People's Bank of India iii) Imperial Bank of India iv) None of these

The former name of 'Reserve Bank of India' was
i) National Bank of India ii) Imperial Bank of India iii) India's Bank iv) Central Bank of India