Banknotes
of old series are phased out periodically in a non-disruptive manner. RBI
issues instructions to banks to ensure that such banknotes are not re-issued to
the members of public. The details of phasing out process initiated during the
last five years are as under:
Denomination
|
Series
|
Process
initiated in
|
Rs. 500
|
MG series
1996
MG series
2000
|
July 2008
October
2009
|
Rs. 1000
|
MG series 2000
|
March 2011
|
State-of-the-art printing machinery
has been installed for printing banknotes in the four presses under SPMCIL and
BRBNMPL. The design and production of printing plates is done in-house by the
Presses. Steps for indigenization of production of banknote paper have also
been initiated. One new banknote paper line with 6000 MT annual capacity is
under installation at Security paper Mill, Hoshangabad. This will be in
addition to the existing capacity of 3000 MT security paper. Further, one joint
venture company namely Bank Note Paper Mill India Limited (BNPMIL) has been set
up at Mysore by SPMCIL and BRBNMPL where two banknote paper lines of annual
capacity of 12000 MT are under installation. On commissioning of these two
projects, major requirement of banknote paper will be met indigenously.
This was stated by Minister of State
for Finance, Shri Namo Narain Meena, in written reply to a question in the Lok
Sabha today.
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