The Act caps note denominations at a value not exceeding:
ATwo thousand
BFive thousand
CNine thousand
DTen thousand
Answer & Solution
Correct answer: D. Ten thousand
1. The Central Government may specify other values.
2. It acts on the Central Board's recommendation.
3. But the ceiling is ten thousand rupees.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
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