1. When did India adopt a decimal monetary system?
a) 1947
b) 1857
c) 1957
Wrong! Try again.
Wrong! The correct answer is 1957.
India adopted the decimal monetary system in 1957, when Rupee 1 was deemed to consist of 100 singular paisa. The Reserve Bank of India has the sole responsibility to manage issue of notes. But all matters pertaining to coins are handled by the Government of India. The government is also responsible for designing and minting coins.
Correct!
India adopted the decimal monetary system in 1957, when Rupee 1 was deemed to consist of 100 singular paisa. The Reserve Bank of India has the sole responsibility to manage issue of notes. But all matters pertaining to coins are handled by the Government of India. The government is also responsible for designing and minting coins.
2. What is a currency chest?
a) Total assets of nationalised banks
b) Money kept to meet exigencies like war, earthquake
c) Money stored in banks on behalf of RBI
Wrong! Try again.
Wrong! The correct answer is money stored in banks on behalf of RBI .
In order to facilitate the distribution of notes and coins, the Reserve Bank has authorised select branches of banks to establish currency chests. These are actually storehouses which stock money on behalf of the RBI. These currency chest banks distribute notes and coins to other bank branches in their area. At present, there are over 4,422 currency chests.
Correct!
In order to facilitate the distribution of notes and coins, the Reserve Bank has authorised select branches of banks to establish currency chests. These are actually storehouses which stock money on behalf of the RBI. These currency chest banks distribute notes and coins to other bank branches in their area. At present, there are over 4,422 currency chests.
3. Which of these is not done through intaglio printing?
a) The watermark
b) Portrait of Mahatma Gandhi
c) RBI Governor's signature
Wrong! Try again.
Wrong! The correct answer is the watermark.
An intaglio print is one whose image is printed from a recessed design incised or etched into the surface of a plate. In this type of print the ink lies below the surface of the plate and is transferred to the paper under pressure. The printed lines of an intaglio print stand in relief on the paper.
On Indian paper money, the portrait of Mahatma Gandhi, the Reserve Bank seal, guarantee and promise clause, the Ashoka Pillar emblem, and the RBI Governor's signature are printed in intaglio.
Correct!
An intaglio print is one whose image is printed from a recessed design incised or etched into the surface of a plate. In this type of print the ink lies below the surface of the plate and is transferred to the paper under pressure. The printed lines of an intaglio print stand in relief on the paper.
On Indian paper money, the portrait of Mahatma Gandhi, the Reserve Bank seal, guarantee and promise clause, the Ashoka Pillar emblem, and the RBI Governor's signature are printed in intaglio.
4. What is the weight of a five-rupee coin?
a) 10 gms
b) 8.5 gms
c) 9 gms
Wrong! Try again..
Wrong! The correct answer is 9 gms.
The coin is made from cupro-nickel, weighs 9.0 grams and is 23 milimeter in diameter. Coins are minted at the four government mints at Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and Noida (Uttar Pradesh). The coins are issued for circulation only through the Reserve Bank of India under the RBI Act. Coins up to 50 paise in denomination are called 'small coins' and coins of Rupee 1 and above are called 'Rupee coins'.
Correct!
The coin is made from cupro-nickel, weighs 9.0 grams and is 23 milimeter in diameter. Coins are minted at the four government mints at Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and Noida (Uttar Pradesh). The coins are issued for circulation only through the Reserve Bank of India under the RBI Act. Coins up to 50 paise in denomination are called 'small coins' and coins of Rupee 1 and above are called 'Rupee coins'.
5. Early issue of paper money can be traced back to..?
a) 18th century
b) 17th century
c) 16th century
Wrong! Try again.
Wrong! The correct answer is 18th century.
Paper Money, in the modern sense, can be traced back to the late eighteenth century. Among the earliest issues were those by the Bank of Hindostan (1770-1832), the General Bank in Bengal and Bahar (1773-75, established by Warren Hastings), the Bengal Bank (1784-91), etc. Few of these notes still survive. The Paper Currency Act of 1861 conferred upon the Government of India the monopoly to issue notes bringing to an end any note issue by private and presidency banks. The Government of India continued to issue currency notes till the Reserve Bank of India was established on April 1, 1935. The Bank of Bengal, the Bank of Bombay and the Bank of Madras were the presidency banks.
Correct!
Paper Money, in the modern sense, can be traced back to the late eighteenth century. Among the earliest issues were those by the Bank of Hindostan (1770-1832), the General Bank in Bengal and Bahar (1773-75, established by Warren Hastings), the Bengal Bank (1784-91), etc. Few of these notes still survive. The Paper Currency Act of 1861 conferred upon the Government of India the monopoly to issue notes bringing to an end any note issue by private and presidency banks. The Government of India continued to issue currency notes till the Reserve Bank of India was established on April 1, 1935. The Bank of Bengal, the Bank of Bombay and the Bank of Madras were the presidency banks.