The currency coins and notes in India__:
1. are backed by equivalent value of gold kept in RBI
2. come under a type of Fiat Money
3. have equivalent intrinsic value of their denomination
4. counted in both narrow money and broad money figures
Select the correct statements from the codes given below:

Answer: [D] Only 2 & 4

This question is a part of GKToday's Integrated IAS General Studies Module