CUET Preparation Today
In India, why rupees is widely accepted as "Medium of exchange"? |
High level of sustainability of rupees in Indian market Popularity and economic viability of rupees in Indian market No individual can legally refuse payment made in rupees All of the above |
No individual can legally refuse payment made in rupees |
As per Indian law, no other individual or organisation is allowed to issue currency. Moreover, the law legalises the use of rupee as a medium of payment that cannot be refused in settling transactions in India. No individual in India can legally refuse a payment made in rupees. Hence, the rupee is widely accepted as a medium of exchange. |
