Overview

The Department of Currency Management provides focused attention on the management of currency notes and coins. The mandated functions of the Department include those related to:

• Management of currency notes, such as, design, printing and timely supply of currency notes and withdrawal of currency notes and distribution of coins.

• Keeping circulation of counterfeit banknotes in check.

• Monitoring currency chests and availability of customer service to the public by facilitating exchange of notes and coins.

Under this mandate the Department undertakes the following functions:

Planning, Research and Development: Evaluating the need for the introduction of new design banknotes and the security features that need to be incorporated in banknotes, assessing currency needs, (notes and coins) and ensuring adequate and timely supplies of notes and coins.

Resource and Remittance Operations: Monitoring allotment of notes and coins among issue offices and logistics for their supply and overall resource operations.

Currency Chest Operations: Formulating policy on the establishment of currency chests, rationalisation and monitoring their operations.

Note Exchange Operations: Attending to the policy regarding the exchange of soiled and mutilated notes and administration of the Reserve Bank of India (Note Refund) Rules through Reserve Bank of India Issue Offices and banks, and monitors customer service to the public in this regard.

Forged Notes Vigilance Operations: Formulating policy on dealing with forged notes, compiling data and sharing information on cases of forged notes with central and state Government, and organising public awareness on the features of genuine currency notes.

Note Processing Operations: Monitoring soiled notes accumulated at currency chests and their withdrawal and disposal through a mechanised and eco-friendly manner.

Security Related Operations: Making policy with regard to security arrangements at issue offices and currency chests, treasure in transit as well as periodical reviews of security arrangements.

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