Under the provisions of the Reserve Bank of India Act, 1934, RBI has the sole right to issue bank notes of denominational value of Rs. 2 and above. All bank notes are guaranteed by the Government of India. All bank notes issued by RBI are genuine and RBI is responsible for maintaining the quality of banknotes in circulation.
This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha today. PIB