The Reserve Bank gets its role in currency management from the Reserve Bank of India Act, 1934. The Government of India, on the aid-advice of the Reserve Bank, decides on various denominations of banknotes to be issued. The Reserve Bank also co-ordinates with the Government in the designing of banknotes, including various security features.
Tasks of RBI related to Currency Management
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.
