Friday, January 18, 2008

SECURITY FEATURES OF INDIAN BANKNOTES

Watermark: The Mahatma Gandhi Series of banknotes contain the Mahatma Gandhi watermark with a light and shade effect and multi-directional lines in the watermark window.


Security thread: Rs.1000 notes introduced in October 2000 contain a readable, windowed security thread alternately visible on the obverse with the inscriptions ‘Bharat’ (in Hindi), ‘1000’ and ‘RBI’, but totally embedded on the reverse. The Rs.500 and Rs.100 notes have a security thread with similar visible features and inscription ‘Bharat’ (in Hindi), and ‘RBI’. When held against the light, the security thread on Rs.1000, Rs.500 and Rs.100 can be seen as one continuous line. The Rs.5, Rs.10, Rs.20 and Rs.50 notes contain a readable, fully embedded windowed security thread with the inscription ‘Bharat’ (in Hindi), and ‘RBI’. The security thread appears to the left of the Mahatma's portrait. Notes issued prior to the introduction of the Mahatma Gandhi Series have a plain, non-readable fully embedded security thread.

Latent Image: On the obverse side of Rs.1000, Rs.500, Rs.100, Rs.50 and Rs.20 notes, a vertical band on the right side of the Mahatma Gandhi’s portrait contains a latent image showing the respective denominational value in numeral. The latent image is visible only when the note is held horizontally at eye level.

Microlettering: This feature appears between the vertical band and Mahatma Gandhi portrait. It contains the word ‘RBI’ in Rs.5 and Rs.10. The notes of Rs.20 and above also contain the denominational value of the notes in microletters. This feature can be seen better under a magnifying glass.


Intaglio Printing: The portrait of Mahatma Gandhi, the Reserve Bank seal, guarantee and promise clause, Ashoka Pillar Emblem on the left, RBI Governor's signature are printed in intaglio i.e. in raised prints, which can be felt by touch, in Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 notes.

Identification mark: A special feature in intaglio has been introduced on the left of the watermark window on all notes except Rs.10/- note. This feature is in different shapes for various denominations (Rs. 20-Vertical Rectangle, Rs.50-Square, Rs.100-Triangle, Rs.500-Circle, Rs.1000-Diamond) and helps the visually impaired to identify the denomination.

Fluorescence: Number panels of the notes are printed in fluorescent ink. The notes also have optical fibres. Both can be seen when the notes are exposed to ultra-violet lamp as shown below.

Optically Variable Ink: This is a new security feature incorporated in the Rs.1000 and Rs.500 notes with revised colour scheme introduced in November 2000. The numeral 1000 and 500 on the obverse of Rs.1000 and Rs.500 notes respectively is printed in optically variable ink viz., a colour-shifting ink. The colour of the numeral 1000/500 appears green when the note is held flat but would change to blue when the note is held at an angle.


See through Register: The small floral design printed both on the front (hollow) and back (filled up) of the note in the middle of the vertical band next to the Watermark has an accurate back to back registration. The design will appear as one floral design when seen against the light.

WHAT’S AT THE BACK

Have you ever noticed the reverse side of banknote???
Here is the description of central theme of the reverse side of banknote (Mahatma Gandhi series)

10/- The central theme consists of intricate guilloche and floral patterns with profiles of an elephant, rhinoceros and tiger’s face.

50/- The central theme depicts a panoramic view of India’s Parliament House with floral and filigree pattern.

100/- The central theme depicts a panoramic view of the Kanchanjunga with floral and filigree pattern.

500/- The central theme depicts Mahatma Gandhi leading a group of persons with floral and filigree pattern.

Wednesday, January 16, 2008

BANK NOTE SIZE

Deno. ------------Note size (mm)
10/- --------------137 X 63
20/- --------------147 X 63
50/- --------------147 X 73
100/- -------------157 X 73
500/- -------------167 X 73
1000/- ------------177 X 73

BANK NOTES OF OLDEN DAYS





























CURRENCY PRINTING IN INDIA

The first notes were printed at Bank of England in 1861 and issued in India in March 1862. Due to growing demands, another unit was added in July 1961. There was a contract with the Bank of England, which was entered into in 1867 for supply of notes to India. It continued up to the end of June 1928 in respect of lower denomination up to Rs. 100/- and up to the end of December 1930 for higher denomination. The first notes issued by the Government of India carried improved designs with numbering at 2 or 3 or 4 places. Guilloches and the artistic designs were introduced. They were like Bearer Bonds. Since then, the issue of notes became the monopoly function of Government of India. The authority to issue these notes was entrusted to the three Presidency Banks, which were chartered by the Government of India. The standing agreement for the supply of notes with the Bank of England in 1867 continued for nearly 60 years till we established our own Currency Printing Press at Nashik Road. The Currency Note Press was commissioned on 14th April 1928. New unit was added in July 1961. Paper was imported from M/s. Portals Ltd, England till 1967-68. Security Paper Mill was commissioned at Hoshangabad in 1967.

The decision to establish another Bank Note Press at Dewas in Madhya Pradesh was taken in 1969. A contract was entered with M/s. Koenig and Bauer, West Germany for supply of equipment. The Press went into production in 1974. Notes of 10/-, 20/-, 50/- and 100/- were printed by dry offset as well as Intaglio. The Press entered into an agreement with SICPA, Switzerland for manufacture of inks. For the first time, intaglio designs were introduced in Indian Bank Notes.

To meet the demands of growing economy, Government of India initiated two more projects at Mysore and Salboni. The projects have been transferred to the Reserve Bank of India in December 1989. First phase at Mysore was commissioned on 01.06.96 and that of Salboni went into production on December 11th 1996. The second phase at Mysore with 7 production lines went into operation with effect from June 1st 1999. Second phase operation at Salboni with 8 production lines went into production on 11th February 2000. The projects are one of the biggest in the world. Mysore plant was constructed with an out lay of Rupees 880 crores. The first phase operations in Mini Press were transferred to the Main Press Complex. The Presses have the most sophisticated and state of the art machinery. M/s De La Rue Giori of Switzerland supplied the machinery for the Mysore Plant. Komori Currency Corporation supplied the machinery to the Salboni Plant. The activities are mechanical mostly. Computerisation is given priority. The work methods are completely revamped from those present in the existing organisations.

HISTORY OF INDIAN COINAGE

The history of Indian coinage dates back to Vedic times. Vedic literature made references to Satamanas (coins) niskas (weights) and hiranya pindas (ornaments). Kautilya’s Arthashastra also made a mention to Suvarnarupa (coins of gold; Rupya rupa (Silver coins), Tamrarupa (copper coins) and Rupyarupa Sisarupa (Lead coins). Rupya means wrought silver. It is the root form of rupee. This confirms the presence of an exchange material in the form of metallic value during vedic period.

Coined money was in circulation even in 326 BC at the time of Alexander’s invasion. Sher Shah Suri (1540 to 1545 AD) issued silver coins weighing 178 grains and termed it as Rupiya. This was a pre-cursor of the modern Rupee. It remained largely unchanged till the early 20th century. The first coinage under the crown was issued in 1862 and in 1877 Queen Victoria assumed the title the Empress of India.

After independence on 15th August, 1947 India retained the monetary system of the earlier British period. While Pakistan introduced a new series of coins in 1948 and notes in 1949, India brought out its distinctive coins on 15th August, 1950. One Rupee consisted of 16 Annas or 192 pies (One Anna = 4 Pice; 1 Pice = 3 Pies). Independent India adopted Ashoka pillar on all coins. The Lion Capital of the Ashoka Pillar replaced the King’s portrait.

In September 1955 the Indian Coinage Act was amended to adopt a metric system for coinage. The Act came into force with effect from 1st April, 1957. The rupee remained unchanged in value and nomenclature. However, it was divided into 100 paise. For public recognition, the new decimal paise was termed Naya Paise till 1st June 1964 when the term Naya was dropped. Stainless steel coinage of 10, 25 and 50 paise was introduced in 1988 and of 1 rupee in 1992. Rupee 1, 2 and 5 coinisation was introduced gradually during 1990s.

There are 4 Mints at Bombay, Calcutta, Hyderabad and Noida, which are capable of producing coins in Gold, Silver, Nickel, Cupro-Nickel, Aluminium-Bronze, Aluminium Magnesium alloy etc.