Which institution in India holds the statutory authority to issue currency notes other than one-rupee notes?

💡 Solution & Explanation

The Reserve Bank of India possesses the sole monopoly under Section 22 of the Reserve Bank of India Act, 1934, to issue bank notes across the country. Conversely, one-rupee notes and coins are issued directly by the Ministry of Finance, with the one-rupee note bearing the signature of the Finance Secretary. The central bank manages currency distribution through its network of issue offices.