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The term fiat money or fiat currency is generally associated with a classification of money that has been authorized for use by a country's government. • Statement 1 is Incorrect: Bitcoin is a cryptocurrency. Cryptocurrencies are not legal tender, they have not yet been recognized as a valid form of currency by the Government of India. • Statements 2 and 3 are also Incorrect: Although cheques and demand drafts are often used in banking transactions, they do not fall in the category of fiat money because they can be rejected as the mode of transaction. • Statements 4 and 5 are Correct: Coins and notes are fiat money because the value of the currency notes and coins is derived from the guarantee provided by the Central Government on these items. Every currency note bears on its face a promise from the RBI that if someone produces the note to RBI or any other commercial bank, RBI will be responsible for giving the person purchasing power/value equal to the value printed on the note.
As usual, a lot of people were …….in the King’s darbar.
Something done in an unhappy manner
The comfortable chaise in the corner of the room was her favourite spot to ____ with a good book and relax.
Given below is a sentence with one blank in each. Below each sentence are given four words among which one word might fill the blank. If none of the wo...
The brutal incident ………a ……… of ………….. in the society.
I. To everything there is a ________.
II. The first _________ of the show did really well.
III. _________ the soup to taste with salt and pepper.
The town ________ both National Hunt racing and Flat racing.
Select the most appropriate option to fill in the blank
It was ______ who encouraged me while I was sunk in despair.
His team has employed some tactics to ____________him as a figure of power.
……………. in 2010 by ex-NASA scientists, Planet Labs …………….. the ……&hel...
