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Four printing presses actively print notes: Dewas in Madhya Pradesh, Nasik in Maharashtra, Mysore in Karnataka, and Salboni in West Bengal. The Dewas and Nasik presses are owned by the Security Printing and Minting Corporation of India (SPMCIL), a wholly owned company of the Government of India.

The old currency notes of Rs 500 and Rs 1000 can now only be exchanged at the offices of the Central banks.

RBI, in consultation with the central Government and other stakeholders, estimates the quantity of banknotes that are likely to be needed denomination-wise in a year, and places indents with the various currency printing presses for their supply.

The rupee is subdivided into 100 paise (Hindi pl; singular: paisa). The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.

Two of India's currency note printing presses (Nasik and Dewas) are owned by the Government of India; two others (Mysore and Salboni) are owned by the RBI through its wholly owned subsidiary, Bharatiya Reserve Bank Note Mudran Ltd (BRBNML).

RBI Limitations: The Indian Government 7 The Reserve Bank has the right to print currency up to 2,000 rupee notes. However, if the Reserve Bank wants to print anything higher, the government must amend the Reserve Bank of India Act.

In terms of Section 22 of the Act, Reserve Bank has the sole right to issue banknotes in India. Section 25 states that the design, form and material of bank notes shall be such as may be approved by the Central Government after consideration of the recommendations made by the Central Board of RBI.