Twitter
Advertisement

DNA Explainer: What is process of designing Indian currency notes and who does it

If the design of the rupee note needs to be modified, the Department of Currency Management of the RBI is in charge of doing so.

Latest News
DNA Explainer: What is process of designing Indian currency notes and who does it
FacebookTwitterWhatsappLinkedin
Arvind Kejriwal, Delhi CM appealed to the Government to include the pictures of Lord Ganesha and goddess Lakshmi on the Indian currency notes as it may help to improve the country’s current economic status. He further clarifies that he is requesting for new currency notes to include the pictures of Lord Ganesha and Lakshmi not asking to change the 
currency notes. 
 
Kejriwal said, “Everyday new currency notes are printed. These pictures can be added then,” Kejriwal added two gods associated with prosperity. “Indonesia is a Muslim majority country and has only 2-3 per cent Hindus and they have Ganesh ji’s photo on their currency… when Indonesia can do it, why can’t we do.” (Also Read: Delhi traffic advisory: Know routes to avoid in national capital on October 28)
 
The statement has generated debate, with many criticising it as making the incorrect argument.
 

Who designs Indian currency notes?
The Reserve Bank of India and India’s central government has the full authority to create the design of Indian currency notes. Any changes to the design of the currency note will be approved by the centre board of RBI and the central government.
 
As per Section 25 of the RBI Act, 1934, “The design, form and material of bank notes shall be such as may be approved by the [Central Government] after consideration of the recommendations made by Central Board.”
 
The Department of Currency Management at RBI is in charge of managing the affairs and duties related to currency management.
 
“Currency management essentially relates to issue of notes and coins and retrieval of unfit notes from circulation. This work is performed through 18 issue offices of the Reserve Bank and a wide network of 4,195 currency chests, 488 repositories and 3,562 small coin depots managed by banks and Government treasuries,” the RBI said in its official website.
 
What’s the process of designing the Indian currency notes?
If the design of the rupee note needs to be modified, the Department of Currency Management of the RBI is in charge of doing so. Before forwarding the design to the central government for approval, it sends it to the RBI. The Centre is the final arbiter of currency note design.
Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement