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The Reserve Bank of India,chiefly known as RBI,is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance,Government of India. It is responsible for the control,issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in four of its currency printing presses located in Nashik,Dewas,Mysore and Salboni .. The RBI established the National Payments Corporation of India as one of its specialised division to regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialised division for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.
The Indian rupee is the official currency in the Republic of India. The rupee is subdivided into 100 paise,though as of 2023,coins of denomination of 1 rupee are the lowest value in use whereas 2000 rupees is the highest. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act,1934.
The Mauritian rupee is the currency of Mauritius. One rupee is subdivided into 100 cents. Several other currencies are also called rupee.
Coins of the Indian rupee (INR) were first minted in 1950. New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today,circulating coins exist in denominations of One Rupee,Two Rupees,Five Rupees,Ten Rupees and Twenty Rupees. All of these are produced by four mints located across India,in Kolkata,Mumbai,Hyderabad,Noida.
The history of the rupee traces back to ancient Indian subcontinent. The mention of rūpya by Pāṇini is seemingly the earliest reference in a text about coins. The term in Indian subcontinent was used for referring to a coin.
Bhaskar Namdeo Adarkar was the ninth Governor of the Reserve Bank of India from 4 May 1970 to 15 June 1970. His term was the second-shortest after Amitav Ghosh who had served for only 20 days. His term was short since he was filling in as interim before S. Jaganathan took over.
Sarukkai Jagannathan was the tenth Governor of the Reserve Bank of India from 16 June 1970 to 19 May 1975.
Ram Narain Malhotra popularly known as R. N. Malhotra was the seventeenth governor of the Reserve Bank of India (RBI),serving from 4 February 1985 to 22 December 1990.
Lakshmi Kant Jha,MBE,born in Darbhanga district,Bihar was the eighth Governor of the Reserve Bank of India from 1 July 1967 to 3 May 1970.
The Gandhi Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of Indian rupee. The series is so called because the obverse of the banknotes prominently display the portrait of Mahatma Gandhi. Since its introduction in 1996,this series replaced all Lion Capital Series banknotes issued before 1996. The Reserve Bank of India (RBI) introduced the series in 1996 with 10 and 500 rupee banknotes.
The Indian 1000-rupee banknote was a denomination of the Indian rupee. It was first introduced by the Reserve Bank of India in 1938 under British rule and subsequently demonetized in 1946. Post-independence,the denomination was re-introduced in 1954. In January 1978,all high-denomination banknotes of ₹1000,₹5000,and ₹10000 were demonetized in order to curb unaccounted cash money.
The Indian 500-rupee banknote is a denomination of the Indian rupee. In 1987,the ₹500 note was introduced,followed by the ₹1,000 note in 2000 while ₹1 and ₹2 notes were discontinued in 1995. The current ₹500 banknote,in circulation since 10 November 2016,is a part of the Mahatma Gandhi New Series. The previous banknotes of the Mahatma Gandhi Series,in circulation between October 1997 and November 2016,were demonetised on November 8,2016.
The Indian 100-rupee banknote is a denomination of the Indian rupee. It has been in continuous production since Reserve Bank of India took over the functions of the controller of currency in India in 1935. The present ₹100 banknote in circulation is a part of the Mahatma Gandhi Series. These notes are in circulation along with the Mahatma Gandhi New Series of banknotes which were introduced in July 2018.
The Indian 20-rupee banknote is a common denomination of the Indian rupee. The current ₹20 banknote in circulation is a part of the Mahatma Gandhi Series. The Reserve Bank introduced the ₹20 note in the Mahatma Gandhi Series in August 2001. Making it one of the last denominations of the series to be introduced in the series;other than the ₹5,which was introduced in November 2001.
The Indian 10-rupee banknote is a common denomination of the Indian rupee. The ₹10 note was one of the first notes introduced by the Reserve Bank of India as a part of the Mahatma Gandhi Series in 1996. These notes are presently in circulation along with the Mahatma Gandhi New Series which were introduced in January 2018,this is used alongside the 10 rupee coin.
The Indian 2000-rupee banknote (₹2000) is a denomination of the Indian rupee. It was released by the Reserve Bank of India (RBI) on 8 November 2016 after the demonetisation of ₹500 and ₹1000 banknotes and has been in circulation since 10 November 2016. It is a part of the Mahatma Gandhi New Series of banknotes with a completely new design.
The Mahatma Gandhi New Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of the Indian rupee,intended to replace the Mahatma Gandhi Series of banknotes. Announced on 8 November 2016,it followed the demonetisation of ₹500 and ₹1000 banknotes of the original Mahatma Gandhi Series. Similar to the preceding series of banknotes,the obverse of the Mahatma Gandhi New Series banknotes also prominently displays the portrait of Mahatma Gandhi. The logo of Swachh Bharat Abhiyan is also printed on the back of the banknotes of this series.
The Indian 200-rupee note (₹200) is a denomination of the Indian rupee. After the 2016 Indian banknote demonetisation,the new currency notes were announced by the Reserve Bank of India:₹2,000,₹500,₹200,₹100,₹50,₹20 and ₹10.
The Digital Rupee (e₹) or eINR or E-Rupee is a tokenised digital version of the Indian Rupee,to be issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). The Digital Rupee was proposed in January 2017 and will be launched in the 2022–23 financial year. Digital Rupee is using blockchain distributed-ledger technology.
References
- ↑ "Who's who in India". 1967.
- 1 2 "P C Bhattacharya". Reserve Bank of India. Retrieved 15 September 2008.
- ↑ "No. 37598". The London Gazette (Supplement). 4 June 1946. p. 2789.
- 1 2 The Congress Split Accidental India: A History of the Nation's Passage through Crisis and Change By Shankkar Aiyar
- ↑ P. C. Bhattacharya Bio In.com Retrieved on 23 August 2013
- ↑ "10 Rupee Bank Note P V Bhattacharya". Golden Collection. Retrieved 23 June 2019.
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