1) Note printing process.
2) How to make notes.
3) fully guidlines and knowledge
The word Rupee was first used by Sher Shah Suri during his rule in India (1540–1545). The printing of notes in India is done by the Reserve Bank of India and the Government of India does the work of minting coins.The first watermark note in India was printed in 1861.Currently the currencies of 8 countries including India are called rupee. Apart from Hindi and English, 15 languages are used in Indian notes. In this article, we are describing the entire journey related to the life of the Indian rupee.
Do you know that, there are 4 firms in the world to produce rupee paper.
I. Argo Viges of France
II. Portal of america
III. Gain and Paper Fabrics Lucental of Sweden.
Where are notes printed in India?
The country has four banknote presses, four mints and a paper mill. The notes are in Dewas (Madhya Pradesh), Nashik (Maharashtra), Salboni (West Bengal) and Mysore (Karnataka).
265 crore notes are printed in Devasaki Note Press in a year. Here, notes worth 20, 50, 100, 500 rupees are printed. The funny thing is that the ink used in notes is also produced in Dewas itself.
Currency Press Note Nashik: Since 1991, notes of 1, 2, 5 10, 50 100 are printed here. Earlier, 50 and 100 rupee notes were not printed here.
There is a security paper mill in Hoshangabad in Madhya Pradesh.Note printing papers come from Hoshangabad and abroad.1000 notes are printed in Mysore.
Where are the coins minted in India?Coins are minted at four places in India.
1. Mumbai
2. Kolkata
3. Hyderabad
4. Noida
The trail shows where the coin is cast?
Every coin has a mark printed on it, by which you will know which mint it is. If a diamond appears broken under the date printed in the coin, then this sign is the symbol of Hyderabad Mint. Noida Mint coins have a small and solid dot just below where the year of printing is marked. It was first made on a 50 paise coin. In 1986, these markings started on these coins. Apart from this, Mint is in Mumbai and Kolkata.
What are notes made of?
The paper made of cotton and special kind of ink is used by the Reserve Bank of India to produce notes. Some of the paper used for preparing Indian currency notes is produced by the Currency Note Press (CNP) in Maharashtra and most of them are produced at Hoshangabad Paper Mill in Madhya Pradesh. Some paper is also imported.
Offset inks are manufactured at Banknote Press in Dewas, Madhya Pradesh for printing notes. Whereas the embossed printing is seen on the note, its ink is made in the unit Sikpa (SICPA) of the Swiss firm located in Sikkim.
How many notes are printed in India?
According to the Reserve Bank, India prints 2,000 crore currency notes every year. 40 percent of its cost goes to imports of paper and ink. These papers are imported from countries such as Germany, Japan and Britain.
List of top 15 private sector banks in India
Who decides how many notes and how many denomination notes are to be printed?
It is decided by the Reserve Bank of India. The quantity of currency notes printed is based on the operation of notes, soiled notes and reserve requirements throughout the economy.
Who decides How many coins are to be cast?
Only the government has the right to decide this. However, only one rupee note is printed by the Finance Ministry and is signed by the Finance Secretary.
How are notes printed?
Paper sheets from abroad or Hoshangabad are inserted in a special machine configuration. Then another machine called intabue is colored with it. That is, the notes are printed on the sheet. After this good and bad notes get sorted. A sheet contains about 32 to 48 notes. Remove the bad and separate it.
The banknote numbers are printed in bright ink. The banknote has bright fibers. Can be seen in ultraviolet light.
The note is printed on a watermarked paper mixed with cotton and cotton fibers.The first watermark note in India was printed in 1861.
Banking Sector Structure in India
How is the serial number of the notes given?
At the beginning of every financial year it is estimated that how many notes of which class are to be printed, how many notes have to be supplied and how many are to be exchanged. The Reserve Bank of India has four printing presses and this work is distributed among them. Notes of any class are printed in numbers up to one crore.
After that the letters of the English alphabet are added in front of that number. The letters of the alphabet are selected randomly. This is usually repeated after several years.
Where do you want to be?
Their ‘shelf life’ (period of correctness) is fixed while preparing the note. After the expiry of this period or due to continuous circulation, the notes are withdrawn by the Reserve Bank. Bank notes and coins are deposited in the issue offices after coming back from circulation.
What to do with torn notes?
When a note becomes out of date or is not able to come into circulation again, it is deposited through commercial banks and is not sent to the market again. Till now the practice was that those old notes used to be burnt, but now the RBI imported a machine worth 9 crores instead of burning to protect the environment. This machine cuts old notes into small pieces, then these pieces are melted and made into a brick shape. These bricks are used in many works.
It should be known that every year 5 million notes in India are out of circulation whose total weight is equal to 4500 tons. It is worrisome that the amount of ink and paper required by India to print notes is not produced here and the government has to import both these things from abroad. As an alternative to this, the government has started using 10 rupee plastic currency notes as an experiment in some parts of the country since 2010.
