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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?
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Answer Posted / vimal kumar (tgt- s.st. kendr
One Rupee note is the currency unit of India. it is monetary matter comes under the central list. All works of central list are done in the name of the central government. So, for currency matter finance ministry is the first and immediate authority to fix the value of the first unit of currency. It issue one Rupee note to ensure its control over currency. Keeping in view this matter the finance secretary sign it on the name of the government. Rest of the currency note are valued as per the value of one rupee. This is why government has no fear of loosing the control over currency. Reserve Bank of India which works under central government, is responsible for the issuing of the other currency notes for government on the name of governor as a head of RBI. This makes the other currency note bearer note. Hence, governor of RBI has to sign it. This is why, apart from one Rupee note rest of the currency note are signed by the governor.
| Is This Answer Correct ? | 47 Yes | 19 No |
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