Under the Coinage Act, 2011, what is the maximum denomination for which a coin can be legally issued by the Central Government, and what is the legal tender limit for transactions using coins of denomination not lower than one rupee?

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Current Affairs · Financial Laws

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Maximum denomination is 1000 rupees, and coins are legal tender for any sum not exceeding 1000 rupees.

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Answer 1

Maximum denomination is 50 rupees, and they are legal tender for payments up to 100 rupees only.

Answer 2

Maximum denomination is 500 rupees, and coins are legal tender only up to 500 rupees for a single payment.

Answer 3

Maximum denomination is 1000 rupees, and coins are legal tender for any sum not exceeding 1000 rupees.

Answer 4

Maximum denomination is 100 rupees, and coins are legal tender for any amount without any limit.

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