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Why one cannot refuse ex payment made in rupees in India?

Posted by Aesha Kashyap 5 years, 3 months ago

CBSE > Class 10 > Social Science

1 answers

Gaurav Seth 5 years, 3 months ago

In India, one cannot refuse a payment made in rupees because, by law, the Reserve Bank of India (RBI) issues currency notes on behalf of the central government. The law legalizes the use of rupee as a medium of payment which cannot be refused in settling transactions in India.

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CBSE > Class 10 > Social Science