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Under The Coinage Act, 1906, the Government of India is charged with the production and supply of coins to the Reserve Bank of India (RBI). The RBI places an annual indent for this purpose and the Government of India draws up the production programme for the India Government Mints on the basis of the indent. Besides minting coins, the mints at ...
The correct option is B Government of India. The RBI prints all currency notes except the one rupee denomination notes and its subsidiary coins. The designing and minting of coins is the responsibility of the Government of India.
In respect of coins, the role of RBI is limited to distribution of coins that are supplied by Government of India. The Government of India is responsible for the designing and minting of coins in various denominations as per the Coinage Act, 2011. 7. Where can one find information regarding notes/coins supplied by RBI or currently in circulation?
The Government of India is responsible for designing and minting coins in India. The Reserve Bank of India issues coins for circulation under Section 38 of the RBI Act. The minting of coins comes under the coin and currency division of the Department of Economic Affairs in the Ministry of Finance.
Corporate Structure of SPMCIL. SPMCIL is headed by a board of directors, presided by the chairman and managing director. The other board members include three functional directors who head the departments of technology, finance and human resource.
India has been one of the earliest issuers of coins in the world (circa 6 th Century BC). Few countries rival India for the sheer diversity of its coinage be it minting techniques, motifs, sizes, shapes, the metals used or for that matter the monetary history arising from the Monetary Standards India has experienced (Tri-metallism, Bi-metallism ...
Coins are received from the Mints and issued into circulation through its Regional Issue offices/sub-offices of the Reserve Bank and a wide network of currency chests and coin depots maintained by banks and Government treasuries spread across the country.
India has been one of the earliest issuers of coins in the world and has been known for its sheer diversity in terms of minting techniques, motifs, sizes, shapes, the metals used, etc. The Coinage of India has played a very important role in the history of economic development of the country ever since its inception.
SPMC Section. DEA is the Administrative Department of Security Printing and Minting Corporation of India Limited (SPMCIL) which is a Mini-Ratna Category-I, Schedule-‘A’ CPSE of GoI. SPMC Section looks after all issues relating to appointment to Board Level posts in SPMCIL and residual establishment matters of the nine Units of SPMCIL.
Oct 27, 2022 · Role of Central Government in minting of coins: The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations. The role of the RBI is limited to the distribution of coins that are supplied by the central government.
