What body governs the maximum number of Rupee notes printed by Bank Note Press?

Question

What body governs the maximum number of Rupee notes printed by Bank Note Press?

Answer 1

RESERVE BANK OF INDIA

  

Issuer of currency

    * Issues and exchanges or destroys currency and coins not fit for circulation.

    * Objective: the main objective is to give the public adequate supply of currency of good quality and to provide loans to commercial banks to maintain or improve the GDP.

The basic objectives of RBI are to issue bank notes, to maintain the currency and credit system of the country to utilize it in its best advantage, and to maintain the reserves. RBI maintains the economic structure of the country so that it can achieve the objective of price stability as well as economic development, because both objectives are diverse in themselves.

Developmental role

    * Performs a wide range of promotional functions to support national objectives.

Related functions

    * Banker to the Government: performs merchant banking function for the central and the state governments; also acts as their banker.

    * Banker to banks: maintains banking accounts of all scheduled banks.

    * Owner and operator of the depository (SGL) and exchange (NDS) for government bonds.

Answer 2

Reserve Bank of India.