The Indian Currency System

The introduce monetary organisation of Bharat is based on Inconvertible Paper Currency together with is managed past times the RBI. The introduce currency organisation is based on minimum reserve organisation of banker’s complaint issue. It was adopted inward 1957, nether the minimum reserve system, minimum of gilt together with unusual securities to the extent of Rs. 200 Crore (of which gilt should live of value Rs. 115 Crore) together with the remainder inward rupee securities is maintained.

Some Important Points  you lot should know

  • The symbol of Bharat Rupee “he introduce monetary organisation of Bharat is based on Inconvertible Paper Currency together with is get produce The Indian Currency System” came into vague on 15th July 2010.
  • The novel symbol “he introduce monetary organisation of Bharat is based on Inconvertible Paper Currency together with is get produce The Indian Currency System” is an amalgamation of Devanagari “र” together with the Roman “R” without the stem.
  • The novel symbol was designed past times D. Udaya Kumar, a post service graduate of IIT Bombay. 
  • Though the symbol “he introduce monetary organisation of Bharat is based on Inconvertible Paper Currency together with is get produce The Indian Currency System” volition non live printed or embossed on currency notes or coins, it would live included inward the “Unicode Standard” together with major scripts of the basis to ensure that it is easily displaced together with printed inward the electronic together with impress media. 
  • RBI working grouping on money furnish headed past times Y. V. Reddy recommended for dropping of post service operate saving deposits. Accordingly, in that location are immediately solely iii monetary aggregates. Those are M1, M2 together with M3.
  • The revised monetary measures are 
    • M1 = Coins together with Notes + Demand Deposits + Other Deposits amongst RBI
    • M2 = M1 + Time liabilities proportion of Saving deposits amongst banks + Certificates of deposits issued past times Banks + Term deposit maturing within a year.
    • M3 = M2+Terms deposit amongst banks amongst maturity over 1 twelvemonth + telephone scream upward / term borrowing of the banking system.
  • Coins are minted at 4 places. Those are,
    1. Mumbai
    2. Kolkata
    3. Hyderabad
    4. Noida
Devaluation of Currency :
Devaluation of currency agency reducing the value of a currency past times the financial authorities, together with thus equally to brand exports cheaper together with imports costlier together with overcome remainder of payments deficit. In India, devaluation has been resorted to 4 times.
  • First Devaluation : In June, 1949 (by 30.5%) 
    • Finance Minister – MD John Mathai
  • Second Devaluation : In June, 1966 (by 57%)
    • Finance Minister – Sachindra Chaudhry)
  • Third Devaluation : on 1st July 1991 (by 9%)
    • Finance Minister – MD Manmohan Singh
  • Fourth Devaluation : on tertiary July 1991 (by 11%)
    • Finance Minister – MD Manmohan Singh
Printing of Securities together with Minting inward India
Security Press
Station
Related to
Bharat Security Press (1992)
Nasik
Postal Material, Postal Stamps etc
Security Printing Press (1982)
Hyderabad
Union excise duty stamps
Currency Note Press (1928)
Nasik
Bank notes from Rs. 1 to Rs. 100
Bank Notes Press (1974)
Dewas
Bank Notes of Rs. 20, Rs. 50, Rs.100 together with Rs. 500
Modernized Currency Notes Press (1995)
Mysore (kar) Salbani (Paschim Banga)
            
Security Paper (1967-68)
Hoshangabad
Banks together with Currency Notes paper

Sudhanshu Chakraborthi

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