Currency Printing Institutions of RBI

on

Currency Printing Press - RBI
RBI is the sole authority in India that can issue all the banknotes of the denomination values of Rs. 2, 5, 10, 20, 50, 100, 1000, 5000, and 10,000 except one rupee note.

Process of Printing

Decision

The whole process of printing of notes and minting of coins starts when RBI evaluates the currency needs of the country before every fiscal year based on the projections for the rates of inflation, GDP growth, and electronic transactions.

The regional offices quarterly collect and analyze these data and dispatch them to the RBI main office. There they prepare an estimate on the cash needed for next year. Once the estimate is final, it consults with the Coins and Currency Division (CCD) of the finance ministry.

RBI together with CCD makes the final decision on the number of currencies to print and it is safeguarded with a high degree of secrecy.

Designing 

The Security Paper on which the currency is printed is designed, produced, and supplied to printing presses by two mills:
  • Hoshangabad (Madhya Pradesh)
    • Established in – 1967
    • Under Central Govt. control.
  • Mysuru (Karnataka)
    • Established in – 2015
    • Under RBI control.
The embedding of several security features such as micro-lettering, three-dimensional watermark, and security threads are done during the designing process. Once the final design for the banknote is approved, it is sent to the country's four printing presses.

Printing Press of RBI

There is 4 printing press that prints notes in India. Out of which 2 are under Central Govt's direct control and the other 2 under the control of RBI's subsidiary, the Bharatiya Reserve Bank Note Mudran Private Ltd.

Under Central Govt.

  • Dewas (MP)
  • Nasik (Maharashtra)

Under BRBNMPL

  • Mysore (Karnataka)
  • Salboni (West Bengal)
During the printing process, the presses add an additional security feature, the optically variable ink. After printing is done, it is sent to the RBI headquarters. From there, the currency notes are distributed to the regional office's storage vaults, which in turn distributes it to the local banks and ATMs.

Minting of Coins

Coins are minted under the Government of India in the following cities:
  • Noida
  • Kolkata
  • Mumbai
  • Hyderabad

One Rupee Note

One Rupee Note

The One Rupee Note (₹1), the smallest denomination note is issued by the Ministry of Finance, Govt of India. It carries the initials of Finance Secretary, Govt of India. It has 1 Rupee written in 13 Regional languages on the back of the banknote below the coin image on left.

Printing of these notes have been stopped by Govt of India two times in history:
  • In 1926 (restarted in 1940)
  • In 1994 (restarted in 2015)
The one rupee note issue was restarted on 5 March 2015 at Srinathji Temple, Rajasthan by Rajiv Mehrishi, Finance Secretary. 

Recently as per the official Gazette publication on 7 February 2020,  the Government of India decided to circulate new currency notes in 2020 with some minor changes.

Also Refer:

Thanks for reading!!!

Comments

Post a Comment