Which of the following banks prints the currency notes in India?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e Reserve Bank of India
1. Two of the currency note printing presses are owned by the Government of India and two are owned by the Reserve Bank, through its wholly owned subsidiary, the Bharatiya Reserve Bank Note Mudran Ltd. (BRBNML).
2. The government owned presses are at Nasik (Western India) and Dewas (Central India).
3. The Reserve Bank of India (RBI) prints and manages currency in India, whereas the Indian government regulates what denominations to circulate.
4. The Indian government is solely responsible for minting coins.
5. The RBI is permitted to print currency up to 10,000 rupee notes.