Read the two statements and choose the correct option.
I. Coins in India are minted by the Government of India.
II. Demand deposits with banks are legal tender.

Only ICorrect answerYour answerOnly IICorrect answerYour answerBoth I and IICorrect answerYour answerNeither I nor IICorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

Coins are issued by the government and put into circulation through the RBI. I is true.
Payment by cheque or bank transfer can be refused, so deposits are not legal tender. II is false.

Ten questions from Money and Its Functions, at your own pace.

Ten questions from Money and Its Functions, at your own pace.

Read the two statements and choose the correct option.I. Coins in India are minted by the Government of India.II. Demand deposits with banks are legal tender.