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Why is modern currency accepted a medium of exchange without any use of its own ? Give reason

Posted by Afridhi Afimon 6 years, 7 months ago

CBSE > Class 10 > Social Science

1 answers

Vaishnavi Gawade 6 years, 7 months ago

1.Modern currency is authorized by govt. of a country 2. In India, the reserve bank of India issue all currency notes on behalf of central govt. 3.No other individual or organisation is allowed to issue currency . 4.The law legalise the use of rupee as a medium of payment that cannotbbe refused in setting transaction in India. 5. No individual in India can legally refuse a payment made in rupees.

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CBSE > Class 10 > Social Science