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Explain bank of issue functions of …

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Explain bank of issue functions of central bank

Posted by Muskan Bhatija 7 years, 1 month ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 1 month ago

Bank of issue means the bank which has rights of issuing notes in a country.In India central bank has only or monopoly right of issuing notes (except 1 rupee notes) . Central bank has same relation with commercial banks as commercial banks has with peoples. The notes issued by central bank are unlimited legal tender.

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