Question
Download Solution PDFWhich of the following new series of coins put in circulation in India w.e.f. 2011, are the legal tender ?
This question was previously asked in
OSSSC GPEO Prelims GS Official Paper 2015 (Held on: 13th Dec 2015)
Answer (Detailed Solution Below)
Option 1 : 50 paise
Detailed Solution
Download Solution PDFThe correct answer is 50 paise.
Key Points
- The 50 paise coin from the new series introduced in India w.e.f. 2011 is a legal tender coin.
Additional Information
- The Government of India has the sole right to mint coins.
- The responsibility for coinage is vested with the Government of India under the Coinage Act, 1906
- The designing and minting of coins in various denominations is also the responsibility of the Government of India.
- Coins are minted at the four India Government Mints in Mumbai, Alipore(Kolkata), Saifabad(Hyderabad), Cherlapally (Hyderabad), and NOIDA (UP).
- The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act.
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