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.
********
DSM/MJPS/ka