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The process of issuing proper currency was started in the 18 century .Private bank such as the Bay of Bengal ,the bank of Bombay.and the bank of Madras.The Government of India printed currency until the RBI was established in 1935,which then took up this responsibilities.In 1938, India was printed bank note of 10,000 Demonisetion . The rs 5 note was the paper currency issued by RBI in January 1938.
In 1946 rs 1,000 an rs 10,000 note was Demonisation to curb unaccounted money .These were reintroduced in 1954 (this time rs 5,000 note also printed )only to be withdrawn in 1978 again.
According to the RBI Act 1934 ,section 22,RBI h the sole right to issued bank note of all demonisation .RBI is responsible to design production and management of the currency of India with the goal of the ensuring an adequate supply of clean and genuine.note.The responsibilities for coinage waste with the Government of India of the basis of the coinage waste with the Government of India on the basis of Coinage Act 2011 ,RBI Act as an agent of an Government which merely distribute the coin in the markets.
What are he present demonisation of bank in INDIA? At present note in India are issuing in the demonisation of rs 5, rs 10,rs 20,rs 50,rs 100,rs 500 and rs 1,000.These note are called bank note as they are issued by Reserve Bank of India .The printing of note in the demonisation of rs 0,rs 1,and rs 2 has been discontinued as these demonisations has been coinised .The printing of note in the demonisation of rs 5 had also been discontinued however it has been decided o reintroduced these so as to meet the gap between the demand and the supply of coin in these demonisation .Currently RBI has issued currency note in the demonisation of rs 10,rs 20,rs 50 ,rs100,rs 500.and rs 1,000as per passion of RBI ACT 1934.
Coin in India are available in demonisation of 10 paise, 20 paise ,50 paise and one rupee note,two rupee and five rupee coin upto 50 paisa are called Small coin and Coin of Rupee.One and above are called Rupee note.Coin are presently being issue by government in the demonisation of rs 50 paisa ,rs 1, rs 2 ,rs 3,and rs 10 coins .Coin can be issued upto the demonisation of rs 1,000 in the term of the "THE COINAGE ACT 2011).
Not necessarily.The RBI bank can also be issued note on the demonisation of 1,000 rupee note and rupee 5,000 note and rs 10,000 or any other demonisation.that the central government may specify .
Note are printd at 4 printing press located at Nasik ,Dewar,Mysore and salboni.
RBI currently manage the currency operation through it 19 issue office located at Ahmadabad ,Banpglore ,BHopal New delhi etc.The issue office recieve fresh note from the printing press RBI and then send note to the designated branches of the commercial bank.
RBI has authorised commercial bank bank branches established currency chest ,which Act as a store house for bank note and rupee noteand behalf of RBI .These chest branches are expected to distributed bank note and rupee note coin to other banks branches in the ares of other operations.
SOME bank branches are authorised by the RBI to establised small coin repeat to store coin i.e below rupee one coin in their ares of operations.
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