UPSC 2018 › Indian Economy › Monetary Policy & Money Supply
1 question · 2018 · answers as per the UPSC key
UPSC 2018 · Q46 · Indian Economy › Monetary Policy & Money Supply · Save
Which one of the following statements correctly describes the meaning of legal tender money ?
(a) The money which is tendered in courts of law to defray the fee of legal cases
(b) The money which a creditor is under compulsion to accept in settlement of his claims
(c) The bank money in the form of cheques, drafts, bills of exchange, etc.
(d) The metallic money in circulation in a country
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Answer: (b) The money which a creditor is under compulsion to accept in settlement of his claims