RBI visit sites in Balasore; to set up Printing Press

A delegation from the Reserve Bank of India (RBI) visited Balasore, Odisha to confirm the infrastructure for installing a currency printing press. The team visited the villages of Kasaba Padabad, Naraharipur, Baunsamunkha and Remuna to analyze the situation before banknote printing press installation.

RBI requires a total of 100 acres of land n two locations for the project. “If Odisha Industrial Infrastructure Development Corporation (IDCO) provides 100 acres of land, the decision to install the presses in both locations will be changed. If no state land is assigned, we will buy private land and start the project”, says the RBI.

India started printing currency notes back in 1928 with the establishment of India Security Press at Nasik, Maharashtra. Now, a total number of four printing press are in India : Nasik (Maharashtra), Dewas (Madhya Pradesh), Mysore (Karnataka) and Salboni (West Bengal).