rbi: India Nears Self-reliance In Banknotes: Rbi Guv | India Business News – Times of India


MUMBAI: RBI governor Shaktikanta Das said on Monday that the country has made substantial progress in achieving self-sufficiency in the production of banknotes while launching a facility for manufacturing specialised currency ink.
The governor inaugurated Varnika, the ink manufacturing unit of Bharatiya Reserve Bank Note Mudran (BRBNMPL), a subsidiary of the central bank. He emphasised the importance of continuously building capacity, research & development and innovation to achieve 100% self-sufficiency in banknote manufacturing soon.
Varnika can manufacture 1,500 metric tonnes of specialised ink, which enhances the security features of banknotes. “It is a boost to the ‘Make in India’ initiative. It ensures that the entire requirement of banknote printing inks is produced in-house. This unit also manufactures Colour Shift Intaglio Ink (CSII) and meets all the requirements of banknote printing presses in India, which has resulted in cost-efficiency and self-sufficiency in banknote ink production,” the RBI said in a statement.
A varnish plant for manufacturing different types of varnishes and production of medium and special additives indigenously has also been commissioned. The governor also laid the foundation stone for the establishment of a Learning and Development Centre (LDC) of the BRBNMPL in Mysuru.


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