Which of the following statements is/are correct about the currency in India?
1. It has intrinsic value.
2. The total amount of currency in circulation is backed by an equal value of gold by the RBI
3. Anyone who does not accept Indian currency (in India) is liable for action under the Indian Penal Code.
Select the correct answer using the code given below.
1
1 and 2
2
2 only
3
3 only
4
None of the above