Press Information Bureau

Government of India

Ministry of Finance

23-November-2012 17:00 IST

The country has become self reliant in printing of currencies. The total requirement of about 17,600 million pieces of Bank notes of various denominations are printed within the country in four presses situated at Mysore and Salboni belonging to Bharatiya Reserve Bank Note Mudran Pvt. Ltd. and at Dewas and Nashik belonging to Security Printing and Minting Corporation of India Ltd. (SPMCIL).

Influx of fake currency from across the border is a separate issue and has no relevance to the printing of currency in the country. There is no confirmed estimate of fake currency within the country. However, to address the menace of Fake Indian Currency Notes (FICN), several agencies of Centre and States are working in tandem to thwart the nefarious activity related to FICN. Ministry of Home Affairs hass constituted Fake Indian Currency Notes Coordination Centre (FCORD) to periodically review the activities of various agencies.

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.

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DSM/RS/bs

Self-reliance in currency printing ensured, domestic presses meet national demand while agencies coordinate against fake currency. India has achieved self reliance in currency printing, meeting national banknote production needs through four domestic security presses (two under BRBNMPL and two under SPMCIL). Counterfeit currency is addressed separately: there is no confirmed estimate of FICN, and central and state agencies cooperate via a dedicated coordination centre to review and synchronise anti-FICN activities.