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The currency notes on behalf of the Central Government are issued by whom?
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The currency notes on behalf of the Central Government are issued by w...
Issuance of Currency Notes by Central Government
The currency notes on behalf of the Central Government are issued by the Reserve Bank of India (RBI). The RBI is the sole authority responsible for issuing and managing the currency notes in India. The currency notes are printed at the four printing presses of the RBI located in Mumbai, Dewas, Salboni, and Mysore.
Legal Basis for Issuance of Currency Notes
The Reserve Bank of India Act, 1934, provides the legal basis for the issuance of currency notes by the RBI. Section 22 of the Act gives the RBI the sole right to issue currency notes except for one rupee notes and coins, which are issued by the Ministry of Finance, Government of India.
Process of Issuance of Currency Notes
The process of issuance of currency notes by the RBI involves the following steps:
- Demand for Currency Notes: The RBI estimates the demand for currency notes based on various factors such as the level of economic activity, the size of the population, and the usage of cash in the economy.
- Printing of Currency Notes: Based on the estimated demand, the RBI places an order with the printing presses for the printing of currency notes.
- Transportation of Currency Notes: Once the currency notes are printed, they are transported to the various offices of the RBI across the country.
- Distribution of Currency Notes: The currency notes are then distributed to various banks and other financial institutions through the RBI's regional offices.
- Withdrawal of Currency Notes: The RBI also withdraws old and damaged currency notes from circulation and replaces them with new notes.
Security Features of Currency Notes
The RBI takes several measures to ensure the security of currency notes. Some of the security features of currency notes include:
- Watermark: Each currency note has a unique watermark that can be seen when held against the light.
- Security Thread: The currency notes also have a security thread that can be seen when held against the light. The thread contains the denomination of the note and the words 'Bharat' in Hindi and 'India' in English.
- Intaglio Printing: The printing of currency notes involves the use of intaglio printing, which produces raised printing that can be felt by touch.
- Microlettering: The currency notes also have microlettering, which is printing that is so small that it can only be read with a magnifying glass.
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The currency notes on behalf of the Central Government are issued by w...
(RBI) the Reserve Bank of India issues the currency notes on behalf of central government
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The currency notes on behalf of the Central Government are issued by w...
RBI ( Reserve Bank of India )
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The currency notes on behalf of the Central Government are issued by whom? for Class 10 2025 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about The currency notes on behalf of the Central Government are issued by whom? covers all topics & solutions for Class 10 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The currency notes on behalf of the Central Government are issued by whom?.
The currency notes on behalf of the Central Government are issued by whom? for Class 10 2025 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about The currency notes on behalf of the Central Government are issued by whom? covers all topics & solutions for Class 10 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The currency notes on behalf of the Central Government are issued by whom?.
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