Look at a 10 rupee note. What is written on top? Can you explain this statement?

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Chapter 3

NCERT

Class 10

Economics

Solutions

4. Look at a 10 rupee note. What is written on top? Can you explain this statement?

Question:

Look at a 10 rupee note. What is written on top? Can you explain this statement?

Answer:

It is written on the top of the ten rupee note - Reserve Bank of India. This means that the Reserve Bank of India issues currency notes on behalf of the Central Government. According to Indian law, no person or institution is allowed to issue currency. In addition, the law legalizes the use of rupees as a medium of exchange. Rupee cannot be refused for payment in transactions in India.

More NCERT Questions

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(All Q's of this Chapter solved)

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The following table shows people in a variety of occupations in urban areas. What are the purposes for which the following people might need loans? Fill in the column.

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What is the basic idea behind the SHGs for the poor? Explain in your own words.

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Why do we need to expand formal sources of credit in India?

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How does money solve the problem of double coincidence of wants? Explain with an example of your own.

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List the various sources of credit in Sonpur.

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Fill the following table : Why did they need credit?

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M. Salim wants to withdraw Rs 20,000 in cash for making payments. How would he write a cheque to withdraw money?

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