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Why commercial Banks can't issue currency?

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Why commercial Banks can't issue currency?

Posted by Mansi Jain 6 years, 2 months ago

CBSE > Class 12 > Economics

2 answers

Manan Saraswat 6 years, 2 months ago

Because only central government has this right and even central government provides money to commercial banks, ministry of finance and rbi issues currency

Bharti Das 6 years, 2 months ago

Because the government didn't give power of issue currency to the commercial banks. Only the Central Bank has the power to issue of currency. If the government gives the power to the commercial bank, it will cause many problems as there are many banks. Central Bank has the power because it keeps the transactions of payment between two countries.

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