Economics · Money and Banking
Which of the following statements is correct regarding the backing of Indian currency?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1None of the above
- 2The banknotes are backed by government securities and gold.✓
- 3The issuance of banknotes and coins is not supported by government securities.
- 4The issuance of banknotes is not supported by gold.
Correct answer
The banknotes are backed by government securities and gold.
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