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It made a world record by printing more than 20,000 million pieces of bank notes in financial year 2016–17, It has its own design cell. It has the capability to print all the denominations of Indian bank notes. The other two bank note presses of SPMCIL are Currency Note Press Nashik Road, and Bank Note Presses Dewas.
There are two Security printing presses of SPMCIL, namely the India Security Press (ISP) at Nashik and the Security Printing Press (SPP) at Hyderabad. These presses print the 100% requirement of passports and other travel documents, non-judicial stamp papers, cheques, bonds, warrants, postal stamps, postal stationery, and other security products.
The British India banknotes of King George V were also printed in England. In 1928, the India Security Press at Nasik became functional and took over from the Bank of England Press the printing of notes. In 1935, the Reserve Bank of India was established, and since then it has been the only currency-issuing authority and monetary agency for ...
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance , Government of India , it is responsible for the control, issue, and maintenance of the supply of the Indian rupee.
The Indian 500-rupee banknote (₹ 500) is a denomination of the Indian rupee.In 1987, the ₹500 note was introduced, followed by the ₹1,000 note in the year. The current ₹500 banknote, in circulation since 10 November 2016, is a part of the Mahatma Gandhi New Series.
Currently, it is the smallest Indian banknote in circulation and the only one being issued by the Government of India, as all other banknotes in circulation are issued by the Reserve Bank of India. As a result, the one rupee note is the only note bearing the signature of the Finance Secretary and not the Governor of the RBI. [1]
The Paper Currency Act, 1861 gave the Government of India the exclusive right to print and circulate banknotes and thereby abolishes the printing and circulation of banknotes by the private Presidency Banks. Until the establishment of the Reserve Bank of India on 1 April 1935, the Government of India continued to print and issue banknotes. [2] [3]
The Indian 20-rupee banknote (₹ 20) is a common denomination of the Indian rupee.The current ₹ 20 banknote in circulation is a part of the Mahatma Gandhi New Series.The Reserve Bank introduced the ₹ 20 note in the Mahatma Gandhi New Series in 2019, making it the last denomination to be introduced in the series.