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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