Where are notes printed? in India | Latest Current Affairs and General Knowledge

Friday, November 8, 2019

Where are notes printed? in India

Where are notes printed? in India
Know where printing of notes takes place in India
Where are notes printed? in India

The Reserve Bank of India (RBI) was established in 1935 by the RBI Act 1934. RBI is the highest monetary institution in India. 

It functions exclusively as a foreign reserve, banker to the Government of India and controller of loans. RBI also has the responsibility of managing the printing and supply of money in the Indian economy. 

'The Reserve Bank of India was started with an amount of Rs five crore.'

Who prints the note?

The Reserve Bank of India has the monopoly to print notes in India. The Reserve Bank of India prints all notes except one rupee notes across the country. 

The Ministry of Finance has the right to print one rupee notes and make all types of coins. 

While it is to be noted, the Reserve Bank of India only has the right to supply currency (both notes and coins) throughout the country.

How many notes to print? What is the minimum reserve system?

How much currency will be printed in India is determined by the minimum reserve system. 

Since 1957, this system has been working in a similar way across the country. 

According to this system, RBI has to keep assets worth 200 crores with it, in which it is mandatory to keep gold reserves of Rs 115 crores and foreign currency of Rs 85 crores. 

After possessing so much property, RBI can print any amount of notes according to the need of the economy. This is called the minimum reserve system.

Where are notes printed?

''The country has four banknote presses, four mints and a paper mill.''

1 - Note Press Dewas (Madhya Pradesh): 265 crore notes are printed in the Note Press of Dewas in a year. 

Notes worth 20, 50, 100, 500 rupees are printed here. You will be surprised to know that the ink used in notes is also produced in Dewas itself.

2 - Currency Press Note Nashik (Maharashtra): Earlier 1,2,5,10 notes were printed here, but after 1991, 50 and 100 notes were also printed here.

3 - Apart from this, there are note presses in Salboni in West Bengal and Mysore in Karnataka. Earlier 1000 rupee notes were printed in Mesur.

How much it costs to make a note?

- It costs Rs 1.14 to print a 1 rupee note, which is the only note whose market value is more than the actual cost.

- It costs 48 paise to print a 5 rupee note.

- It costs 96 paise to print a 10 rupee note.

- It costs 96 paise to print a 20 rupee note.

- It costs Rs 1.81 to print a 50 rupee note.

- It costs Rs 1.20 to print a 100 rupee note.

- It costs Rs 2.15 to print a 200 rupee note.

- It costs Rs 2.13 to print a 500 rupee note.

- It costs Rs 3.53 to print a 2000 rupee note.

Coins are minted at four places in India.

- Mumbai

- Kolkata

- Hyderabad

- Noida

Government of India decide the number of coins to be printed in India.

- It costs about 70 paise to print 1 rupee coin.

- It costs Rs 6.10 to print a 10 rupee coin.

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