The Reserve Bank of India (RBI) has the task of issuing, managing and distributing currency notes and coins. The Reserve Bank manages currency in India on the basis of the Reserve Bank of India Act, 1934.
The Government, on the advice of the Reserve Bank, decides on the various denominations.
The RBI also co-ordinates with the Government in the designing of bank notes, including the security features.
RBI estimates the quantity of notes that are likely to be needed denomination-wise and places the indent with the various presses through the Government of India. Indian Statistical Institute studies to refine the demand estimation model ....
