Current Affairs - Miscellaneous - Discussion

Discussion :: Miscellaneous - Latest Current Affairs (Q.No.156)

156. 

The Paper Currency Act was enacted by British Government of India, in which year?

[A]. 1945
[B]. 1882
[C]. 1861
[D]. 1895

Answer: Option C

Explanation:

By Act 19 of 1861 the colonial government made note issue in India a government monopoly effective 1 March 1862. The Department of Issue of Paper Currency (which we will generally call by its more colloquial name, the Paper Currency Department4) was allowed to issue notes for 10 rupees and up.

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