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Which of the following banks prints the currency notes in India?
1. Reserve Bank of India 
2. NABARD
3. State Bank of India
4. ICICI Bank 

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Correct Answer - Option 1 : Reserve Bank of India 

The Correct Answer is the Reserve Bank of India.

  • The Reserve Bank of India (RBI) prints and manages currency in India, whereas the Indian government regulates what denominations to circulate.
  • The Indian government is solely responsible for minting coins.
  • The RBI is permitted to print currency up to 10,000 rupee notes.
  • To deter counterfeiting and fraud, the Indian government withdrew the 500 and 1,000 rupee notes from circulation in 2016.
  • If the Reserve Bank wants to print anything higher, the government must amend the Reserve Bank of India Act.

NABARD:-

  • National Bank for Agriculture and Rural Development (NABARD) is an apex development finance institution fully owned by the Government of India.
  • The bank has been entrusted with "matters concerning policy, planning, and operations in the field of credit for agriculture and other economic activities in rural areas in India".
  • NABARD is active in developing the Financial Inclusion policy.

State Bank of India:-

  • State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra.
  • SBI is the 43rd largest bank in the world.

ICICI Bank:-

  • ICICI Bank Limited is an Indian multinational banking and financial services company with its registered office in Vadodara, Gujarat, and corporate office in Mumbai, Maharashtra.

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