RBI Governor dedicates Varnika Ink Manufacturing Unit of BRBNMPL to the Nation
What is the news :
- Shaktikanta Das, Governor, Reserve Bank of India (RBI), dedicated Varnika, the Ink Manufacturing Unit of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a wholly owned subsidiary of RBI to the nation.
- Governor recognised the substantial progress made towards achieving self-reliance in banknote production ecosystem in India. He emphasised the importance of continuously building capacity (in terms people, process, and technology), research and development and innovation to achieve 100 per cent self-sufficiency in banknote manufacturing in the near future.
About Varnika :
- BRBNMPL has set up Varnika with an annual ink manufacturing capacity of 1,500 MT to enhance the security of banknotes.
- It is a boost to ‘Make in India’ initiative.
- It ensures that the entire requirement of banknote printing inks is produced in-house.
- This unit also manufactures Colour Shift Intaglio Ink (CSII) and meets the entire requirements of banknote printing presses in India, which has resulted in cost efficiency and self-sufficiency in banknote ink production.
- Further, commissioning of varnish plant for manufacturing different types of varnishes and production of medium and special additives indigenously in-house has helped the currency ecosystem in achieving twofold goals of cost efficiency and reduced import dependency.
- This is in line with India’s march towards achieving complete self-reliance to commence manufacturing of all critical and key raw materials used in printing banknotes.
About Bharatiya Reserve Bank Note Mudran Private Ltd (BRBNMPL):
- Bharatiya Reserve Bank Note Mudran Private Ltd(BRBNMPL) is a wholly owned subsidiary of Reserve Bank of India which is under the jurisdiction of Ministry of Finance of the Government of India. It mints Indian bank notes.
- Headquarters – Benguluru, Karnataka.
- It was established in 1995 to address the demand of bank notes and coins.
- It operates in Indian and global markets, catering to security document needs of Central banks and monetary authorities of the world by designing, printing and supplying banknotes.
- BRBNML supplies a major portion of bank note requirement in the country with the remaining requirements met through Security Printing and Minting Corporation of India Limited (SPMCIL), a government agency wholly owned by Government of India.
- BRBNMPL has two presses in Mysuru and Salboni.
- The present capacity for both the presses is 16 billion note pieces per year on a two-shift basis.
Related News :
RBI Governor lays Foundation Stone of Learning and Development Centre (LDC) of BRBNMPL
- Shri Shaktikanta Das, Governor, Reserve Bank of India (RBI), laid foundation stone for the establishment of a Learning and Development Centre (LDC) of the Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a wholly owned subsidiary of RBI, today (March 28, 2022) in Mysuru.
- LDC is being established with active collaboration from Security Printing and Minting Corporation of India Limited (SPMCIL), a wholly owned Schedule ‘A’ Miniratna Category-I company of Government of India and Bank Note Paper Mill India private Limited (BNPMIPL), a joint venture of BRBNMPL and SPMCIL.
- LDC will act as a forum for robust knowledge dissemination, thus ensuring that the best practices, experiences, and innovations are shared efficiently in a congenial environment to ensure uniformity in banknote production, quality and supply. This centre will be governed by BRBNMPL.
About RBI:
- The Reserve Bank of India(RBI) is India’s central bank and regulatory body and is responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system.
- It also manages the country’s main payment systems and works to promote its economic development.
- Established : 1 April 1935
- Governor: Shaktikanta Das
- Deputy governors (4): Rabi Sankar, M. Rajeshwar Rao, Dr. M. D. Patra, M. K. Jain
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