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Places where the Indian currency notes printed in India
Indian currency has a very long history behind it, starting from the 18th century when East India Company was here to the current mechanism followed by RBI (Reserve Bank Of India). Here you know about SPMCIL : Central Public Sector Enterprise Security Printing and Minting Corporation of India Limited (SPMCIL) is an Indian government-owned corporation that engages in the production of bank notes, coins, non–judicial stamps, postage stamps, and other government related documents for India. Company, a wholly owned company of Government of India, incorporated on 13.01.2006 under the companies Act, 1956 with the objective of designing, manufacturing of currency and bank notes, non-judicial stamp papers etc. SPMCIL is under the administrative control of Ministry of Finance with its Registered and Corporate Office at 16th Floor, Jawahar Vyapar Bhawan, Janpath, New Delhi.
SPMCIL contains 9 units, which include 4 presses, 4 mints, and 1 paper mill.
(1) Currency Note Press (CNP)- CNP was established in 1928 as the first printing press for bank notes in India. CNP located in Nashik and Maharashtra.
(2) Bank Note Press (BNP)- BNP located in Dewas , Madhya Pradesh. They are currently responsible for the printing of the new 500 rupee notes following the demonetisation of the old 500 rupee and 1000 rupee note.
(3) India Security Press- Currency is also printed by the two presses of Bharatiya Reserve Bank Note Mudran Private Limited, a wholly owned subsidiary of Reserve Bank of India. They are currently responsible for the printing of the new 2000 rupee notes, and speculations suggest that the printing of the 500 rupee notes will also shift to these presses for better speed and fewer errors. BNP also has an ink factory that produces ink for security printing.
(4) Security Printing Press- India Security Press located in Nashik and Security Printing Press located in Hyderabad, produce travel documents, postage stamps, and other government related documents.
SPMCIL comprises 4 mints as India Government Mint- Mumbai, , Kolkata,, Hyderabad and Noida.
These mints produce coins, and medals and awards, as required by the Government of India.
One Paper mill
Security Paper Mill was established in 1968 at Hoshangabad, Madhya Pradesh. It produces papers for banknotes and non–judicial stamps. Indian bank note paper mill India private limited prints paper for Indian currency and located in Mysore.
Important questions related to Indian currency in India
Q. Is the ₹2000 rupee note made in India?
Answer- Yes, this notes are made in India. The new ₹2000 notes are printed at RBI currency printing press at Mysuru,Karnataka.
Q. Whether Indian currency is printed outside India?
Answer- No, Indian currency is printed inside India. Only some materials bought from foreign countries. But Printing is done in India by RBI at various Bank note press in India.
Q. What and who decides the money (currency) in circulation in Indian money market?
Answer-The design of the notes is finalized by the government of India based on the recommendations of the RBI. The Reserve Bank of India (RBI) manages currency in India. The Government, on the advice of the Reserve Bank, decides on the various denominations.
Q. Can reserve bank of India or Indian government bodies decide to print additional currencies to meet public expenditure?
Answer-The Reserve Bank estimates the demand for bank notes on the basis of the growth rate of the economy, the replacement demand and reserve requirements by using statistical models. The Government of India decides upon the quantity of coins to be minted. The responsibility for coinage vests with Government of India on the basis of the Coinage Act, 1906 as amended from time to time. The designing and minting of coins in various denominations is also attended to by the Government of India. The Reserve Bank decides upon the volume and value of bank notes to be printed. The quantum of bank notes that needs to be printed broadly depends on the annual increase in bank notes required for circulation purposes, replacement of soiled notes and reserve requirements.
Q. Do India need to Deposit some gold in IMF for additional currency printing for meeting the public expenditure?
No. Absolutely there is no external foreign or IMF control on the estimation, printing or circulation of Indian rupee notes and coins. But the only external control on the value of Indian money in the international circulation is the “Exchange rate”, with reference to various other national currencies.
Latest and up-to date Current Jobs in Indian Currency Notes Printing Press
Here we are here with the detailed and up to date current Jobs opened at Indian Currency Notes Printing Press.
Last Update : 07.12.2016
Currency Note Press Nashik Recruitment 2016 – Apply Online for Junior Office Asst Posts
CURRENCY NOTE PRESS:: NASHIK ROAD
(A Unit of SECURITY PRINTING AND MINTING CORPORATION OF INDIA LTD)
Mini-Ratna Category –I CPSE (Wholly owned by Govt.of India)
Post: Junior Office Assistant
No. of Post: 15
Education Qualifications (As on 30.12.2016) : Graduation with at least 55% marks and computer knowledge with typing speed in English @ 40 wpm/Hindi @ 30 wpm.
Age Limit (As on 30.12.2016) :18 years to 28 years
Exam Fee: 350/-INR
Selection Process: Junior office Assistant: Objective type of online examination.
Logical Reasoning - 40 Questions & 40 Marks
General Awareness - 40 Questions & 40 Marks
English Language - 40 Questions & 40 Marks
Computer Knowledge - 40 Questions & 40 Marks
Numerical Ability - 40 Questions & 40 Marks
Max. Time scheduled : 120 Minutes
The test will be in bilingual form i.e. Hindi & English language except the English language section which will be available only in English.
|Start Date for Online Application & Application Fee||01-12-2016|
|Last Date for Submission of Online Application & Application Fee||30-12-2016|
|Last Date for Editing Application Details||30-12-2016|
|Last Date for Printing of Online Application||14-01-2017|
|Tentative Date of Written Examination/ Skill Test||January 2017/ February 2017|
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