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Who is authorized to issue coins in India?
Question

Who is authorized to issue coins in India?

A.

RBI

B.

SBI

C.

Ministry of Fiannace

D.

None of the above

Correct option is C

The Ministry of Finance, Government of India, is responsible for the issuance of coins in India. While the Reserve Bank of India (RBI) manages the circulation of coins and currency notes, the actual minting of coins is handled by the Government of India through the Ministry of Finance. The coins are minted at government mints and are issued under the authority of the Coinage Act, 2011. RBI, however, issues banknotes but does not issue coins. The government decides the denominations and metal composition of the coins.

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