Finance, Forex and Investments

India has its own mint (Where Currency is produced).?

But still currency cannot be produced with consent of authority. Who is the authority taking control of currency production? They can produce currency as much as they can but why it cannot be done like that?

Public Comments

1. Under The Coinage Act, 1906, the Government of India is charged with the responsibility of production and supply of coins to the Reserve Bank of India. The RBI places an annual indent for this purpose and the government of India draws up the production programme for the India Government Mints on the basis of the indent. Currently coins of the following denominations are in circulation: * 1 Paisa, 2, 5,10,25 and 50 Paise * 1 Rupee, 2 and 5 Rupees The RBI under the Reserve Bank of India Act has the authority to issue currency notes in India. The RBI makes an assessment of the annual requirement of notes in various denominations after taking into consideration various factors. Based on this assessment, the Government of India chalks out the printing schedules of the security printing presses. Indian currency notes are presently in circulation in the following denominations: * 1,2,5,10,20,50,100,500 and Rs.1000 denominations (For further information regarding Indian Bank Notes and Coins – Click Here)
2. Currency - notes and coin minting is done by RBI in India. RBI has got its press and minting at many places in India including at Hyderabad, Nasik, and Noida
3. ever heard of a term called inflation?