RBI team visits Balasore villages to set up currency note printing press

A representative team of Reserve Bank of India visited Balasore district to check infrastructure for setting up of a currency note printing press. 

According to sources, the team paid visits to Kasaba Padabada, Naraharipur and Baunsamunha villages under headquarters and Remuna tehsils to take stock of the situation.  RBI needs 100 acre land for the project at two places.  

“If Odisha Industrial Infrastructure Development Corporation (IDCO) provides 100 acre land, decision to set up currency printing press at two places will be changed. If government land will not be available for the project, we would go for private land acquisition and start the project.”

The team first visited Kasaba area under Sadar tehsil and then they visited Naraharipur, Baunsamunha and Padagaon villages under Remuna tehsil for the project.”   

It is learnt that India has four currency printing presses — in Nasik (Maharashtra), Dewas (Madhya Pradesh), Mysore (Karnataka) and the latest in Salboni (West Bengal).

India started printing currency notes back in 1928 with the establishment of India Security Press at Nasik. The second currency note printing press was established in Dewas in 1975. At present, India prints currency notes using paper substrates made from 100% cotton.