One rupee note is signed by the ministry of finance?

Cost Accounts 11934 views 7 replies

Why one rupee note is signed by the ministry of finance?

Is governer has the right to sign this note?

Is there any interference by the RBI?
 

Replies (7)

only one rupee note is made by Central government else all the curreny notes are made and signed by RBI

CG has full power to made 1 rupee note or coin as it may think fit, rbi has no power on this.except 1 rupee note or coin all made by RBI

 
 
CG has full power to made 1 rupee note or coin as it may think fit, rbi has no power on this.except 1 rupee note or coin all made by RBI
 

 

Reserve Bank Of India was established in 1935, and was nationalised in 1949. Prior to that all notes were issed on behalf of CROWN by Finance Ministry, the ultimate monetary authority for Indian Currency. subsequent to delegating the currency issuing function to RBI, all higher denomination notes were issed by RBI. Only as a matter of convention the one rupee note continued to be signed by Finance Secratary.Probably prior to 1949 one rupee note was the highest denomination note in circulation.

 

source-google

 

THE One Rupee Note signifies one unit measure of currency note consisting of 100 paise which can be determined and decided by the Government of India ONLY. The RBI prints currency notes using this unit measure. for eg. if the RBI wants to print a Rs.5/- note, it has to accept the determined value of Rs.5/- as Re.1 X 5. Also as rupess is the currency of our country and only govt has the authority to issue indian currency it has been signed  by ministry of finance, all other notes are bearer notes which are signed by governor.So when the note of 2 or more then that says that " I Promise to pey the bearer the sum of ----- rupees", it means that the note is actually a promisary note and will be paid using one rupee note or by coins.

One rupee  note  & Coins are issued by the central goverment due the the reason of smallest currency 

If there is a war in india  & we want  money & other assets  we need money rbi has issued only limted money  with in the limit of Gols & other securirities So in this case central goverment has the power to issue the One  Rupee Currency..

thanks for the information & clarifications...


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