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    Question

    Every bank note shall be legal tender at any place in

    India and shall be guaranteed by______?
    A Central Government. Correct Answer Incorrect Answer
    B State Government Correct Answer Incorrect Answer
    C Central Board of RBI Correct Answer Incorrect Answer
    D Governor of RBI Correct Answer Incorrect Answer
    E Nationalized bank of respective local area Correct Answer Incorrect Answer

    Solution

    S.26. Legal tender character of notes. (1) Subject to the provisions of sub-section (2), every bank note shall be legal tender at any place in India in payment or on account for the amount expressed therein, and shall be guaranteed by the Central Government.

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