Thread by @AdvisorLaborLaw

(1:8) From where does the rupee come and go? #BusinessBasics #Jagrukjanta

(2:8) First things first.

For printing currency notes, the ink is mainly imported from Swiss company SICPA and the paper comes from two mills: Hoshangabad, MP and Mysore, Karnataka.

Then comes the printing presses and mints.

Notes are printed at units in Nashik, Dewas, Mysore

(3:8) & Salboni.

While coins are minted in the mints located in Mumbai, Kolkata, Hyderabad and Noida.

The RBI presently manages the currency operations through its 19 Issue Offices located at Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati,

(4:8) Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Thiruvananthapuram and a currency chest at its Kochi office

Further, the RBI has authorised selected scheduled banks to establish currency chests where money is stocked on behalf of RBI

(5:8) As on March 31, 2021, there were 3054 currency chests.

The Issue Offices receive fresh banknotes from the currency printing presses which in turn send fresh banknote remittances to the currency chests. Direct remittances by the presses to the currency chests also happens.

(6:8) The bank branches receive the banknotes and coins from the Currency Chests and Small Coin Depots for further distribution among the public.

The money then travels across the country from one hand to another and when it's finally mutilated, it comes back to Issue Offices.

(7:8) The RBI, inter alia, uses highly sophisticated Currency Verification & Processing Systems (CVPS) machines and Shredding and Briquetting Systems (SBS) machines to verify these notes for reissue or destruction.

(8:8) During the Notebandi, the RBI's 27 shredding and briquetting machines in 19 offices across India snipped the expired banknotes into the smallest pieces and the resulting briquettes were then dumped in India's vast landfills.