The RBI has the authority to issue notes up to what denominations? *
Right Answer is: C
* As per Reserve Bank of India Act, RBI can issue any note of any denomination but not exceeding Rs. 10,000.
* Reserve Bank of India has been authorized to issue notes of Rs. 5,000 and Rs. 10,000 also.
* The notes denomination is notified by Government and RBI acts accordingly.
* 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.