Discussion
Which of the following is not the function of the Reserve Bank of India ?
Answer: C
Correct answer: Issuing of one rupee notes and coins
One rupee notes and all coins are issued by the Government of India, through the Ministry of Finance, and minted at the government mints. The Reserve Bank's role with them is distribution rather than issue.
The RBI's own monopoly under the Act covers currency notes of two rupees and above, which is why those carry the Governor's signature while the one-rupee note carries the Finance Secretary's. The other three - banker to the Government, custodian of foreign exchange reserves, and regulator of credit - are core RBI functions.
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