07. User organizations
Key national organisations contributing to currency design, manufacturing and issuing are:
- Ministry of Finance (Department of Economic Affairs, Currency and Coinage Division), Government of India: http://finmin.nic.in/the_ministry/dept_eco_affairs/currency_coinage/cc_index.asp
- Reserve Bank of India (Department of Currency Management): https://www.rbi.org.in/scripts/FS_Overview.aspx?fn=2753
- Security Printing & Minting Corporation of India Limited (SPMCIL): http://www.spmcil.com/Interface/Home.aspx
- Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL): https://www.brbnmpl.co.in
- Bharatiya Note Paper Mill India Private Limited (BNPM): http://www.bnpmindia.com
Data on volumes and costs:
Data on currency management activities of the RBI can be found in its annual report. One such report is available at Annual Report 2013-14 (https://rbi.org.in/scripts/AnnualReportPublications.aspx?Id=1126 ). Some highlights and facts:
- Expenditure in security printing during 2013-14 (July-June): Rs 32.1 billion (Rs 3210 crore)
- Banknotes in circulation as of March 2014: 77,330 million pieces
- Banknotes supplied in FY 2013-14: 20,918 million pieces
- Banknotes removed from circulation in FY 2013-14: 14,187 million
- Number of counterfeit notes detected by the banking systems in FY 2013-14: 488,273 pieces (Rs 500 – 252,269 pieces; Rs 100 – 118,873 pieces; Rs 1000 – 110,035 pieces)
Some more data on currency management activities are available via:
- Annual Report of the MoF (FY2014-15): http://finmin.nic.in/reports/AnnualReport2014-15.pdf
- Annual Report of SPMCIL
- Annual Report of BRBNMPL
Data (not from original source) on what it costs to make a currency note is available at
- http://www.livemint.com/Opinion/tdg8G3rKtQFmwE2hCcOrFK/What-does-it-cost-to-print-money.html
- https://www.quora.com/What-is-the-cost-of-printing-an-Indian-currency-note
- Highlights: At SMPCIL, it costs Rs 3.17 to make a Rs 1000 note. It costs Rs 2.5 to make a Rs 500 note. It costs Rs 1.79 to make the Rs 100 note. …. It costs Rs 0.48 to make the Rs 5 note.