Winning Bizness Desk
Mumbai. The Reserve Bank had stopped the printing of currency notes worth Rs 2000 a long time ago and now the 2000 rupee notes present in the market are being withdrawn as enough notes of lesser denomination have come into circulation. This question must have crossed your mind about how and where the printing of notes is done? Who decides to print them? Where does the paper and ink come from to print them? What is its paper made from? The first thing is that the Reserve Bank of India does the work of printing currency notes. At the same time, the Government of India does the work of minting coins. There are four currency note printing presses and four coin mints in the country. Currency notes are printed at Dewas in Madhya Pradesh, Nashik in Maharashtra, Mysore in Karnataka and Salboni in West Bengal.
Note's paper are imported from Japan
The presses of Dewas in Madhya Pradesh and Nashik in Maharashtra work under the leadership of the Security Printing and Minting Corporation of India, functioning under the Union Ministry of Finance. The presses at Salboni and Mysore are operated by Bharatiya Reserve Bank Note Mudran Private Limited, a subsidiary of the Reserve Bank of India. Cotton made paper and special ink are used to prepare currency notes. Some part of this paper is produced in Currency Note Press of Maharashtra and some in Hoshangabad Paper Mill of Madhya Pradesh. Some paper is also imported from Japan, UK and Germany. Offset ink for printing currency notes is made at the Banknote Press of Dewas in Madhya Pradesh. At the same time, the embossed printing ink on the currency note is made in SICPA, a unit of the Swiss firm in Sikkim.
How is currency note printing done?
Paper sheets made abroad or in the country are inserted into special machine simonton. After this, the currency note is colored with another machine intabue. In this way the notes are printed on the paper sheet. After this the work of their harvesting and sorting starts. Good and bad notes are separated. 32 to 48 notes are printed on one sheet of paper. The number of the currency note is printed in luminous ink. The luminous fibers present in currency notes can be seen under ultraviolet light. Along with cotton, adhesive solution and gatlin are used in currency note paper. This prolongs the life of currency notes. While preparing currency notes, the period of their correctness i.e. age is fixed. RBI withdraws these notes after completion of this period or if there is a defect in the notes due to continuous circulation. Currency notes after they are withdrawn from circulation are deposited in the issue office. When a note becomes old or is no longer fit to be used again, it is deposited through banks.
How much does the printing of which note cost
RBI incurs the highest cost in printing Rs 10 currency note. It costs the Reserve Bank 96 paise to print a Rs 10 note and 95 paise to print a Rs 20 note. At the same time, it costs Rs 1130 to print 1000 currency notes of Rs 50, Rs 1770 for 1000 notes of Rs 100. Apart from this, RBI has to spend Rs 2370 for printing one thousand notes of Rs 200 and Rs 2290 for printing 1000 notes of Rs 500. 200 rupee note is used more in the market than 2000 and 500 rupee note. That's why its printing costs more.
