RBI: Regulating India’s Currency & Money Printing Process
The Reserve Bank of India (RBI) is the organization that regulates the printing of notes in India. The central bank is responsible for issuing and regulating the country’s currency, and it operates a number of presses and mints across the country to produce new notes and coins. The government of India also plays a role in the issuance of currency, as the RBI is fully owned by the Indian government.
The notes are printed in four presses, two are owned by government of India and two by Reserve bank of India. These presses are:
Security Printing and Minting Corporation of India Limited (SPMCIL), owned by Government of India, has press located at Nashik, Dewas and Hyderabad.
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), subsidiary of Reserve Bank of India, presses located at Mysuru and Salboni
The RBI also has the authority to demonetize banknotes, which means to withdraw them from circulation. This is done to help control inflation, to combat counterfeiting, or to help prevent money laundering or other illegal activities.