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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.
Select the number from among the given options that can replace the question mark (?) in the following series.
17, 25, 34, 44, 55, ?
Select the option that represents the letters that, when sequentially placed from left to right in the blanks below, will complete the letter series.
Select the option figure, which when placed in the blank space of the figure marked ‘X’, would complete the pattern.
Three of the following letter-clusters are alike in some manner and one is different.
Select the one that is different.
Select the Venn diagram that best illustrates the relationship between the following classes.
Electrical Appliance, Refrigerator, Freezer
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Seven friends, A, B, C, D, E, F and G, are sitting around a circular table facing the centre (not necessarily in the same order). D is an immediate neig...
In a certain code language, ‘ASIA’ is written as ‘ZHRZ’ and ‘IRELAND’ is written as ‘RIVOZMW’. How will ‘NORWAY’ be written in that ...
P started a work by investing ₹6,000. After 6 months Q joined with an amount of ₹14,000. After 1 year R joined with ₹12,000. After two years of wo...
Statements: All trucks are bikes. All bikes are carts. Some carts are pens.
Conclusion I: Some trucks are carts.
Conclusion II: No hikes are pens.
A statement in this question and the two conclusions related to them are given in the form of i and ii, assuming that the statements given in the statem...
