Why can one not refuse a payment made in rupees in India ? -SST 10th

Why can one not refuse a payment made in rupees in India ? -SST 10th
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Answer :

In India, one cannot refuse a payment made in rupees because, by law, the Reserve Bank of India (RBI) issues currency notes on behalf of the central government. The law legalizes the use of rupee as a medium of payment which cannot be refused in settling transactions in India.
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Why one cannot refuse a payment made in rupees in India ? -SST 10th

Description : Why one cannot refuse a payment made in rupees in India ? -SST 10th

Last Answer : One cannot refuse a payment made in rupees because it is accepted as a medium of exchange. The currency is authorized by the government of India.

Full convertibility of a rupeee means - (1) purchase of foreign exchange for rupees freely (2) payment for imports in terms of ruppes (3) repayment of loans in terms of rupees (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply

Description : Full convertibility of a rupeee means - (1) purchase of foreign exchange for rupees freely (2) payment for imports in terms of ruppes (3) repayment of loans in terms of rupees (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply

Last Answer : (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply Explanation: The full convertibility of the Indian currency means ... governmental control. Presently, the issue of capital account convertibility is in the discussion stage.

Full convertibility of a rupeee means (1) purchase of foreign exchange for rupees freely (2) payment for imports in terms of ruppes (3) repayment of loans in terms of rupees (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply

Description : Full convertibility of a rupeee means (1) purchase of foreign exchange for rupees freely (2) payment for imports in terms of ruppes (3) repayment of loans in terms of rupees (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply

Last Answer : determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply

Is it legal for a business to refuse payment in cash?

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Description : How many kilocalories are there in 20 rupees peanuts ? Calculate the amount of nuts with difficulty ?

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Official and unofficial phones ? The official price of a phone is 11 thousand rupees. Again, the unofficial price of that phone is less than 9500 rupees. And unofficial phone is also available to buy in the mobile markets.

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