Tag: IAS

Why does RBI consider coins as Asset but notes as Liability!

If one goes through the balance sheet of RBI, one can observe that Notes issued by RBI come under the Liability section while “Coins” are classified as Assets. Seems confusing, right? Let’s explore the rationale behind this. The RBI Act,1934 gives Reserve Bank of India the sole right to issue bank notes in India. Section 34 of the act further stipulates that the Issue Department of RBI will have as liability an amount equal to the total of the amount […]

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