Ever wondered how the currency reaches out to you from the RBI

RBI

Ever wondered who prints the currency in the country we know that’s RBI and how it reaches out to you or the public in general. So this article will give you a complete idea about how the process goes.

The currency in India is being printed and managed by the Reserve Bank of India while the Indian government regulates and decides what denominations of the currency to be circulated.

Also, the Indian government is solely responsible for minting the coins. Minting as in stamping.  The RBI is authorized to print currency up to 10,000 rupee notes. The issuing, managing, and distribution of the currency notes is a very complex procedure and involves a great deal of coordination and high level of security procedures. A small disturbance in the supply chain of currency might lead to a huge disruption.

Coming to how the Reserve Bank of India reaches out its currency to the public.

RBI has offices located throughout the country in places like Ahmedabad, Kanpur, Lucknow, Hyderabad, Bangalore, etc.  These offices receive the notes from the note presses and coins from the mints are received by offices in Mumbai, Kolkata, Hyderabad, and New Delhi.

There are only four currency note presses in the country.

Two of them belong to the RBI and the other two belong to SPMCIL (Security Printing and Minting Corporation of India Limited). The notes and rupee coins are stored at the currency chests and small coins at the small coin depots for further distribution.

Now you may have a doubt what are currency chests and small coin deposits. So currency chests are those selected branches of banks by RBI which are entitled to aid the distribution of the currency and the same for small coin deposits.

They act like warehouses to store currency on behalf of the RBI. There are thousands of currency chests located in India. RBI has only 19 regional offices in operation so it distributes currency through these chests and small coin deposits only.

The movement of the currency from these deposits to the bank’s branches is done through roadways and railways accompanied by police and RBI officials. And then from the banks, the currency reaches out to the public in general.

Hope you all now got clarity about how the currency you use almost every day in your life reaches out to you. Keep following us and do read the articles to know more interesting facts.

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