Major Functions

• The Department attends to the core statutory function of note and coin issue and currency management. This involves forecasting the demand for fresh notes and coins, placing the indent with four printing presses and mints, receiving supplies against those indents and distributing them through the 18 offices (15 Issue Offices + 3 Sub-Offices) of the Bank, a wide network of currency chests, repositories and small coin depots. The Department also keeps an account of notes in circulation and also the stocks at RBI offices and

• (A currency chest is an extended arm of the Issue Department maintained with a commercial bank where the RBI stores fresh and re-issuable notes and allows the commercial banks to withdraw cash for its requirements and deposit its excess cash. A repository is an extension of the currency chest wherein a portion of the currency chest balance is permitted to be held at one or more other local branches of the same bank). Soiled notes are also stocked in the chests pending transportation to RBI.

• The Department administers the Reserve Bank of India (Note Refund) Rules. The rules lay down the circumstances in which value of torn and mutilated notes can be refunded. Soiled notes which are unfit for circulation are mopped up from circulation for destruction.

• The Department reviews various security features of the currency notes for incorporation in the notes from time to time.

• It studies the features of the forged notes detected and seized with a view to determining the steps needed to be taken to strengthen the integrity of the notes.

• The Department also acts as a nodal Department for the Bharatiya Reserve Bank Note Mudran Ltd.

• The Department aims at putting clean notes in circulation in adequate quantity.

• Reviewing the present system of distribution of notes and coins in the light of the recommendations of external consultants.

• Enhancing the capacity at Regional Offices for examination and disposal of notes through installation of Currency Verification and Processing Systems.

• Introducing a polymer note in the lowest denomination, viz., Rs.10 so as to increase the circulation life of the note.

Ahmedabad, Bangalore, Bhubaneswar, Calcutta, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Mumbai, Byculla, Nagpur, New Delhi, Patna, Thiruvananthapuram

Bhopal, Chandigarh, Lucknow