The Reserve Bank of India (RBI), headquartered in Mumbai manages currency in India. The bank’s additional responsibilities include regulating the country’s credit systems and using monetary policy to establish financial stability in India. Before 1934, the government of India had the responsibility of printing money. However, RBI was granted its role in currency management on the basis of the Reserve Bank of India Act in 1934. Specifically, Section 22 of the RBI Act gives the bank the authority to issue currency notes.
RBI was officially founded on April 1, 1935, at Kolkata
RBI Governor: Shaktikanta Das(25th governor).
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Where did the Indian Currency Print?
There are currently four printing presses in India where currency notes are printed – Dewas, Salboni, Nasik, Mysore. Further, there are four mints where coins are minted at Kolkata, Hyderabad, Mumbai, and Noida. Security Paper Mill was established in 1968 at Hoshangabad, Madhya Pradesh to make papers for banknotes.
What is the Symbol of Indian Rupee?
The Indian rupee symbol ₹, code: INR is the currency symbol for the Indian rupee, the official currency of India. It was designed by Udaya Kumar, it was presented to the public by the Indian Government on 15 July 2010.
Demonitization In India:-
On 8 November 2016, the Government of India announced the demonetization of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi Series. It also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes.
New 20 Rupee Note:-
The Reserve Bank of India (RBI) has recently announced that it will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi (New) Series. The new denomination has motif of Ellora Caves on the reverse that depicts the country’s cultural heritage. ➤ It also contains a portrait of Mahatma Gandhi at the centre, with micro letters ‘RBI’, ‘Bharat’, ‘India’ and ’20’, along with a guarantee clause, Governor’s signature with Promise Clause and RBI emblem towards the right of Gandhi’s portrait. ➤ On the right side of the portrait are — an Ashoka Pillar emblem and electrotype (20) watermarks. The base colour of the note is Greenish Yellow. It will bear the signature of RBI Governor Shaktikanta Das. ➤ The dimension of the new Rs 20 note will be 63 mm x129 mm. All the banknotes in the denomination of Rs 20 issued by the RBI in the earlier series will continue to be legal tender.
➤ The new Rs 10 notes will have a see-through register on the front sides with denominational numeral 10. ➤ The denominational numeral 10 will be printed on the front of the note in the Devanagari script. ➤ The front sides will bear a picture of Mahatma Gandhi at the center. Micro letters ‘RBI’, ‘Bharat’ (in Devnagari), ‘India’ and ’10’ will also be printed on the front side of Rs 10 notes. ➤ The front sides will bear a windowed metalized security thread with inscriptions ‘Bharat’ and ‘RBI’. Guarantee Clause, Governor’s signature with Promise Clause and the RBI emblem will be printed towards the right of Mahatma Gandhi’s portrait.
New 50 Rupee Note:-
10th November 2017
135 mm*66 mm
➤ The new Rs 50 notes will have a see-through register on the front sides with denominational numeral 50. ➤ The denominational numeral 50 will be printed on the front of the note in the Devanagari script. ➤ The front sides will bear a picture of Mahatma Gandhi at the center. Micro letters of ‘RBI’, ‘India’, ‘Bharat’ and ’50’ will also be printed on the front side of Rs 50 notes. ➤ The front sides will bear a windowed metalized security thread with inscriptions ‘Bharat’ and ‘RBI’. Guarantee Clause, Governor’s signature with Promise Clause and the RBI Ashoka Pillar emblem will be printed towards the right of Mahatma Gandhi’s portrait.