R. B. I.
"The Reserve Bank [of India] manages currency in India.
The Government, on the advice of
the Reserve Bank, decides on the various denominations.
The Reserve Bank also
co-ordinates with the Government in the designing of bank notes, including the
security features.
The Reserve Bank estimates the
quantity of notes that are likely to be needed denomination-wise and places the
indent with the various presses through the Government of India.
The notes received from the
presses are issued and a reserve stock maintained.
Notes received from banks and
currency chests are examined.
Notes fit for circulation are
reissued and the others (soiled and mutilated) are destroyed so as to maintain
the quality of notes in circulation.
The Reserve Bank derives its
role in currency management on the basis of the Reserve Bank of India Act,
1934.
"The responsibility for coinage vests with Government of India on the basis of the Coinage Act, 1906 as amended from time to time.
"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 World Bank has not direct influence on the amount of currency printed.
The World Bank has not direct influence on the amount of currency printed.
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