Under the Reserve Bank of India Act, 1934, which of the following statements correctly describes the legal status of bank notes issued by the RBI?

Options:

• A: Only bank notes of denominations above Rs. 100 are guaranteed by the Central Government.
• B: Bank notes are legal tender only within the state of their issue and must be re-validated by state treasuries.
• C: The RBI can unilaterally declare any series of bank notes to cease to be legal tender without Government approval.
• D: Every bank note is a legal tender at any place in India and is guaranteed by the Central Government, subject to Section 26 of the RBI Act.

Related Practice Questions:

• Let $S_1$ and $S_2$ be two disjoint, non-empty convex sets in $\mathbb{R}^n$. Under which of the following conditions is there guaranteed to exist a hyperplane that strictly separates $S_1$ and $S_2$?
• Let the primal linear programming problem be: Maximize $Z = c^T x$ subject to $Ax \le b, x \ge 0$. If this primal problem has an unbounded optimal objective value, then which of the following statements is always true regarding its dual problem?
• Let $S = \{(x, y) \in \mathbb{R}^2 \mid x^2 + y^2 \le 9\}$ be a convex set in $\mathbb{R}^2$. The set of all extreme points of $S$ is given by:
• In a linear programming problem with $3$ independent equality constraints and $5$ variables (including slack/surplus variables), what is the maximum possible number of basic solutions?