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Chap 3 : Money and Credit - part 1
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This lesson is on the function of money as medium of exchange and also the modern forms of money.

Arpita Prakash
NCERTs series initiator at Unacademy 'Educator of the Month' for Feb'19 CBSE 0.1% Merit Certificate holder in Mathematics

Unacademy user
Thank you so much ma'am for providing these lessons for free with such Good Quality. Thanks a lot, for helping those like me who can't afford the plus subscription.... and thanks Roman Saini Sir also....
Arpita Prakash
4 months ago
Thank you 😊
RBI is authorized to issue currency notes only. Currency coins are minted by the Gov. of India and RBI acts as an agent of Govt. of India for the distribution of the currency coins. I guess RBI is not authorized to issue the one rupee note either as it bears the signature of the Finance Minister and not of RBI Governor. Please correct me if I'm wrong. Thank you.
Sidharth Rai
2 years ago
bears the signature of finance secretary not of finance minister.
Prerak Vaishnav
2 years ago
Thank you for the correction Mr. Rai.
Swetha suresh
9 months ago
why is it so?
Sidharth Rai
9 months ago
its(RS-1) guarantee provided by the govt against the high valued currency of the RBI
The one rupee note is not issued by RBI. It bears the signature of Finance Secretary,Government of India. Apart from this, the coins are minted at government mints.
Under Section 22 of the Reserve Bank of India Act, RBI has sole right to issue currency notes of various denominations except one rupee notes. The One Rupee note is issued by Ministry of Finance and it bears the signatures of Finance Secretary, while other notes bear the signature of Governor RBI.
Arpita Prakash
a year ago
Thanks ! Check this playlist for the videos of class 11 Political Science NCERT- Indian Constitution at Work. I will be finishing the book soon. Also, check the playlist on the same channel which contains videos on note making strategies
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