Note Printing Press: The name of the currency of India is 'Rupee'. The history of this rupee is years old. Once upon a time only coins were in circulation, but with time the shape, size and shape of Indian currency kept changing. Paper notes were printed for the first time in India in 1861 during the British era. After independence, the responsibility of printing notes was handed over to the Reserve Bank of India. Do you know where notes and coins are printed and made in India? In India, the Department of Currency Management does the work of printing notes on the instructions of RBI. There are 4 currency note presses in the country which are located in different cities. This is where paper notes are printed. In addition, coins are minted in four government-owned mints. Let us tell you how notes are designed, printed and coins are manufactured.
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Responsibilities of the note printing institution
The Department of Currency Management has a Planning Division for note printing, which carries out all the work from design to printing of notes. These include forecasting the demand for notes and coins, ensuring proper distribution of bank notes and coins in the country, withdrawing unfit notes and obsolete coins from circulation, etc.
Where is the currency note press?
The Department of Currency Management receives notes from 4 currency note presses located in the country. Of the currency note presses, 2 are owned by the Government of India and 2 are owned by the Reserve Bank. Government owned note presses are located in Nashik and Dewas. Apart from this, the other two presses are in Mysore and Salboni (Eastern India).
At the same time, coins are minted in four mints owned by the Government of India. These mints are located in Mumbai, Hyderabad, Calcutta and Noida. Note printing press started in Dewas in 1975. Here notes of Rs 20, 50, 100 and 500 are printed. At the same time, the country's first note printing press started in Nashik in the year 1926. Now notes of Rs 1, 2, 5, 10, 50 and 100 are printed here.
Where does ink for printing come from?
The offset ink for printing paper notes is made in the bank note press of Dewas. Additionally, the embossed printing ink on the note is produced at SICPA, a Swiss firm based in Sikkim. To avoid copying of notes, the composition of the ink imported from abroad is changed.
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Tags: 1000-500 notes, 2000 note, Business news in hindi, RBI
FIRST PUBLISHED : March 27, 2024, 1:01 PM IST