Look at a Rs 10 note. What is written on top? Can you explain this statement?
The following words are written on the top of a X 10 note
Reserve Bank of India Guaranteed by the Central Government I promise to pay the bearer the sum of Ten Rupees Governor
A Rs 10 note is acceptable as a medium of exchange because this is authorised by the government of the country. In India, the Reserve Bank of India issues currency notes on behalf of the Central Government. As per Indian law, no other individual or organisation is allowed to issue currency.