When there is talk of money in the country, the first thing everyone takes is the name of Reserve Bank of India. But do you know that once it happened in the country that apart from Indian printing presses, Indian currency was printed from abroad. Today we are going to tell you about the story of PM Deve Gowda, when he decided to print currency from abroad. Indian currency printed abroad?
Let us tell you that on 08 May 1997, Prime Minister Deve Gowda had taken a big decision. In fact, for the first time the government had decided to print Indian currency abroad. After that, Indian currency kept being printed from outside for years. In fact, in 1997, the Indian government had realized that the country’s population was increasing. Along with this, economic activities are also increasing. To deal with this, there was a need for more currency to flow in the Indian economy. At the same time, both the currency printing presses of India were not able to meet the increasing demand.
Central Government
In 1996, the United Front government was formed in the country. After which HD Deve Gowda became the Prime Minister. Deve Gowda had decided to print Indian currency outside. This was the first and last time after independence when Indian currency had to be printed abroad. After consulting the Reserve Bank of India, the Central Government had decided to get Indian notes printed from American, Canadian and European companies. After this, for many years a large part of Indian notes were printed from outside. Although this was a very expensive deal. At the same time, the Indian government had to spend several thousand crore rupees for this.
The government was criticized
It is said that the government then took out Rs 360 crore currency. It was decided to get it printed. It cost $95 million. This decision of the government was widely criticized. After this, the work of printing notes outside was soon stopped. The Government of India had decided to open two new currency presses. Currency printing press was opened in Mysore in 1999. It was opened in Salboni (Bengal) in the year 2000. This increased the capacity to print notes in India.
Where does the currency paper come from
According to the information, the currency paper is produced in the country itself. Paper Security Mill was opened in Hoshangabad in 1968. Its capacity is 2800 metric tons, but this capacity does not meet our total currency production demand. Therefore, we had to import the rest of the paper from Britain, Japan and Germany.
Now everything is indigenous
According to the information, paper, ink, everything is now made in the country. Is made. However, till some time ago, a large part of the paper used in Indian notes came from Germany and Britain. The most commonly used special watermarked paper in notes came from Germany’s Grisseff Devirant and Britain’s Della Roi Company, which is now being manufactured in India itself.
The first printing press< /strong>
GK has a question that where was the first printing press of the country opened. The answer is that the first currency printing press was started in Nashik in 1924. After this, for the first time in 1928, a currency note of five rupees was printed in India. After independence, all the notes of India were printed from here.
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