Mumbai: Governor of Reserve Bank of India (RBI) Shaktikanta Daso Emphasis on achieving 100% self-reliance in the state on Monday banknote making In the near future.
He was speaking after dedicating to the nation Varnika, the ink production unit of Reserve Bank of India Note Mudran Pvt Ltd (BRBNMPL) in Mysore.
BRBNMPL, a wholly owned subsidiary of RBI, has set up Varnika with an annual ink manufacturing capacity of 1,500 metric tonnes to enhance the security of banknotes.
RBI said in a statement that it promotes the ‘Make in India’ initiative and ensures that the entire requirement of banknote printing ink is produced in-house.
In his address, the Governor recognized the substantial progress made towards achieving self-reliance in the banknote production ecosystem in India.
He emphasized the importance of continuous capacity building (in terms of people, process and technology), R&D and innovation to achieve 100 per cent self-sufficiency in banknote manufacturing in the near future.
Varnika also manufactures Color Shift Intaglio Ink (CSII) and caters to the entire requirements of banknote printing presses in India, resulting in cost efficiency and self-sufficiency in banknote ink production.
In addition, commissioning of varnish plants for manufacturing different types of varnishes and indigenously producing medium and specialty additives has helped the currency ecosystem achieve the twin goals of cost efficiency and low import dependency, RBI said. said.
It said, “This is in line with India’s march towards achieving complete self-reliance to start manufacturing the all-important and key raw material used in the printing of banknotes.”
Das also laid the foundation stone for setting up of Learning and Development Center (LDC) of Reserve Bank of India Note Mudran Pvt Ltd BRBNMPL at Mysore.
Speaking at the event, Das highlighted the importance of setting up such a center that would facilitate human resource capacity building in the country’s currency generation ecosystem and emerge as a global center of excellence.
RBI said that the LDC is being set up with the active collaboration of Security Printing and Minting Corporation of India (SPMCIL) and Bank Note Paper Mill India Private Limited (BNPMIPL).
The LDC will act as a platform for robust knowledge dissemination, thus ensuring that best practices, experiences and innovations are efficiently shared in a conducive environment to ensure uniformity in banknote production, quality and supply.
This center will be governed by BRBNMPL.
He was speaking after dedicating to the nation Varnika, the ink production unit of Reserve Bank of India Note Mudran Pvt Ltd (BRBNMPL) in Mysore.
BRBNMPL, a wholly owned subsidiary of RBI, has set up Varnika with an annual ink manufacturing capacity of 1,500 metric tonnes to enhance the security of banknotes.
RBI said in a statement that it promotes the ‘Make in India’ initiative and ensures that the entire requirement of banknote printing ink is produced in-house.
In his address, the Governor recognized the substantial progress made towards achieving self-reliance in the banknote production ecosystem in India.
He emphasized the importance of continuous capacity building (in terms of people, process and technology), R&D and innovation to achieve 100 per cent self-sufficiency in banknote manufacturing in the near future.
Varnika also manufactures Color Shift Intaglio Ink (CSII) and caters to the entire requirements of banknote printing presses in India, resulting in cost efficiency and self-sufficiency in banknote ink production.
In addition, commissioning of varnish plants for manufacturing different types of varnishes and indigenously producing medium and specialty additives has helped the currency ecosystem achieve the twin goals of cost efficiency and low import dependency, RBI said. said.
It said, “This is in line with India’s march towards achieving complete self-reliance to start manufacturing the all-important and key raw material used in the printing of banknotes.”
Das also laid the foundation stone for setting up of Learning and Development Center (LDC) of Reserve Bank of India Note Mudran Pvt Ltd BRBNMPL at Mysore.
Speaking at the event, Das highlighted the importance of setting up such a center that would facilitate human resource capacity building in the country’s currency generation ecosystem and emerge as a global center of excellence.
RBI said that the LDC is being set up with the active collaboration of Security Printing and Minting Corporation of India (SPMCIL) and Bank Note Paper Mill India Private Limited (BNPMIPL).
The LDC will act as a platform for robust knowledge dissemination, thus ensuring that best practices, experiences and innovations are efficiently shared in a conducive environment to ensure uniformity in banknote production, quality and supply.
This center will be governed by BRBNMPL.