Paper Rupee Currency – A Thing for Collectors

The currency used in India is 'Rupee' and has on it 'a promise by the Governor of the Reserve Bank", and that says the paper or note that you are carrying is worth what it says. The promise on the note or paper is significant because it the responsibility of Reserve Bank in preserving the value of the rupee. The currency in India is printed on paper. Therefore a paper is converted into amount or value just because of a promise by the Governor of Reserve Bank on that paper.

Paper currency was first developed in China; it solved many problems posed by metal coins. It is easy to transport, manufacture, and lightweight to carry. The paper required for printing Indian currency is still being imported from other countries. In Order to become self-sufficient, a state of the art banknote paper mill in Mysore is being setup by Reserve Bank.

India is self Sufficient in printing capacity of the currency notes, it has four Printing Presses throughout the country, two of which are under Government control and other two are under the control of Reserve Bank.

• Nasik (Maharashtra) and Dewas (Madhya Pradesh) - controlled by the Government; 
• Mysore (Karnataka) and Salboni (West Bengal) - controlled by the Reserve Bank;

Reserve Bank of India (RBI) needs to prints currency not only to replace soiled and mutilated notes, but also need to print additional currency to meet the needs of the economic growth. How much or what amount to print depends on the many factor like growth rate, Inflation rate, etc.

Amount of currency printed = Replacement requirement + Economic growth requirement of the country

The most important factor to be considered is the while printing currency is security features to prevent counterfeiting. It is the responsibility of the people that they should be aware of these security features so that they can tell a forged note from a genuine one. Believe me, it very difficult to differentiate with naked eye. RBI has launched several awareness campaigns to educate the Public on the security features and uniqueness of Rupee.

Few securities Feature of 500 Rupee Note

If we have this information, then the people who intend to make counterfeit notes will also have, so RBI resolves this issue by making the replication of the security features technically complex and prohibitively expensive, and also by incorporating some additional security features that can be detected only by sophisticated gadgets and equipment.

January 31, 2007, RBI introduced the “Clean Note – Stapling of Note Packets” Policy. According to it, writing on the watermark window of bank notes is punishable under Section 35A of the Banking Regulation Act 1949. It also asked banks/organizations/individual’s to do away with stapling of fresh / re-issuable / non-issuable note packets and instead secure them with paper bands.  There was one instance in 2002 where RBI pulled up a public sector bank for continuing with the above practices.

Furthermore, RBI instructed banks to ensure that the notes that they issue through their ATMs are also pre-checked for genuineness and cleanliness. That is why most of times when we withdraw money from ATM; you will get new/fresh notes.

Managing the paper currency is a tedious process. The major reason is the speed at which each note is being transferred from one person to another person, I.e. Changing of hands and the second is the ease at which counterfeits notes can be made. The average life span of a paper currency note is expected about 1 year, Also it has become quite cheap and easy to print fake paper currency.

We as people most of the times write something or other in the notes, this is punishable offense. Because of this habit as I may call, the notes are not clean and it will be returned to Reserve bank, As more and more currency are being returned to Reserve bank due the non-Cleanliness of the notes, Reserve Bank increases the amount of currency to be printed and this will in turn decrease the value of the money, also the cost involved in printing move goes up. 

“The more you print, the less is the value of the money”.

In 2008, Zimbabwe government printed more currency to save their economy and result was... 100 billion dollar note was worth only 3 eggs

According to the Reserve Bank of India, we are second largest producer as well as second largest consumer of currency in the world, next only to China. Therefore huge costs are incurred in producing such a large amount of currency.

One of the Options considered by Reserve bank of India is to replace the paper currency with plastic currency. Since plastic currency is stronger and durable when compared to paper. These notes would have an average life span of 5 years compared to one year for the paper currency notes, it is also ‘near to impossible’ to make counterfeit notes. Printing of plastic bank notes is very expensive and high end technology and equipment’s will be required. The disadvantage of plastic notes is it could be harmful to the environment as it is made of plastic. Therefore recycling and disposal of plastic notes will be added responsibility of general public and governments.

Click here to read an article "why the Canadian bank Plastic notes which is nearly impossible to make counterfeits notes" .

Australia was the First to introduce the Plastic currency, A Video on how the plastic currency is manufactured.

Reserve bank of India’s Press release on October 2002 is that, it had “no proposal to introduce polymer/plastic notes in place of paper notes”. Click here to see the Press Release

But in 2009, RBI announced its plan to introduce plastic currency notes. And now nearly after 2 years, the Indian government is set to introduce plastic currency in Pilot basis or trail basis with 10 Denomination notes (100 crore pieces of Rs 10 polymer notes). 

 Let’s all hope the pilot launch of plastic currency is successful in India and soon the paper currency of Indian Rupee will be a collectors thing.

References
http://www.rbi.org.in

“I was born intelligent, Education ruined me”

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Four Friends Episode 3

In the other Bus, Abhay sits beside a window, and Dilip tags beside Him, Abhay looking outside from window saw the college building and started to wonder ,” what would be my future”,  Is this it??, this is what I am destined for.

Dilip shook him and asked what happened.” Are you thinking of what Varun said earlier?”

“No” Came the reply

Then what is bugging you? , You look that you have lost something

No”, just look at the college, this is what we have chosen, now sure how our future would be! I am worried what will happen to us 5 years from now.

Worry about getting home now, Dilip said with his arm around Abhay

Remember one thing, “Diamonds are found only in coal mines”, so be happy, you know you could be the diamond in this coal mine… Joked Dilip

The Bus turned the corner and Building could no longer be visible. But Abhay was still lost in thought. He was thinking about what Dilip has just said, “Diamonds are found in Coal Mines”. So I could be the diamond here. No I will be the diamond here. Yes I will be the diamond here and feeling confident, turned to Dilip

Dilip was looking at Abhay said “’I know that you want be the diamond’, but Coal also got is worth. You need to give credit to it also. Don’t just throw them away, without the coal, diamonds wouldn’t be there. And Remember one thing, people will come and find the diamond only if they found the coal mine first.”

Abhay nodded his head in agreement to what Dilip said and looked out of the window and slowly lost himself in his own thoughts. Dilip was beside him looked at Abhay and said to himself I need to be careful when I talk to Abhay, he takes everything to his heart. Dilip looks around to see if he can find someone to talk too.

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Money and SALT Part 1

The story is about three friends, Richie, Poorie and Middlie. They were good friends and each one had their own ambition. Richie wanted to become the richest man in the world at whatever cost. Poorie wanted everyone in the world to be happy, so he always donated whatever he had to whoever asked him. Middlie wanted to be happy and did whatever he could do it to make other happy without his happiness being sacrificed.

They had their differences in opinion when they were doing a task together and always went an elderly person called Wisie for sorting their differences, and Wisie always took the side of Middlie. His actions angered the other two and wanted to prove their point to Wisie, So they have decided that they will meet after 20 year here at the Wisie one, who will be the most successful in their life with their Path to righteousness

They said goodbye to each other and went ahead with Zeal and determination to proclaim that their path is the best one and other two has been wrong.

(Round and Round circles)
After 20 years, at the place of Wisie

A plethora of cars came and a Limo which was 6th car in the line stopped in front of the Wisie house, Suddenly a number of people came out of each car and surrounded the limo, they were carrying AK47 and was looking here and there, By looking at the them , once can say that they are body guards, A person came out of the limo who was well dressed in suit got down and went to the rear side and opened the door, out came Richie, a first look at him would say that he is the richest man in the world, he was first to arrive and Wisie looked at him and said "Welcome Home"

Suddenly, Out of the dust created by the cars, a beggar came in with his eyes shining brightly and looking satisfied and greeted Richie, Richie Shouted back ,

"Get Away from me" !! , "you are dirty and stinking, you will spoil my clothes",
 "GO away”! "If you want money stand outside",
 "Go go Away",

and then he shouted at his bodyguards,
 
"Men”, "what are you looking at?? "
"Get this man out",”Drag him out"

Wisie soothed everyone's nerves and looked at the beggar closely and recognized him as Poorie and welcomed inside.

After sometime, a well-dressed man entered the house and greeted the Wisie, and introduced himself as the Middlie.

After looking at his friends, Richie confidence grew hundreds of times of being successful and Rich and was eagerly waiting for an opportunity to talk about his Richness.

Wisie was happy as everyone has achieved what they were after. He said, “Let us celebrate this occasion”, I will cook the best food in town. The three boys who always liked the food cooked by the Wisie and would cherish the food rather than eating at Town hotel, so they did not deny the request from Wisie.

Richie got his opportunity he was looking for and said "As it will take some time to cook, let us share what we have achieved in this 20 years while you cook. And all agreed to it

Richie started first ...Coming soon

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Four Friends Episode 2

The first look at the building of the college will tell that owners are interested make only money from their college rather than helping the students in building their strong career. Mahi, Dilip came to the college thinking that the college will be progressing like anything… and thought it is Progressive Engineering College rather than the SEC. The building was under construction and classes were taken with good amount of background noise. 

Fortunately or Unfortunately for the students, the college was around 40 km from the city and it made them interact which each other more often as there was no place nearby where they could go and cool their heels. The surrounding of the college was full of mango farms which were heavily guarded. So the students did not have any choice but sit around the big stones and chat.

The Lectures and professors of the SEC were from either retired from established university or Newbie’s starting their career in teaching. So there was good blend of youth and Old in the teaching staff of the college.

Varun was happy that he will not have to face ragging because that was first batch for that college, as it was newly established. Varun was chirpy and had a nick name ‘English Boy’ since he responds to anyone question put to him in any language in English only. He was good at making friends and always pulls everyone in any discussion.

“Oye English Boy, come here” called Mahi. And everyone in the bus acknowledged it.

Varun who was gasping for breath from running to catch the bus, Gives Him a Stare.

Mahi, if you are done with that (staring), come here now.

Varun quietly moves around the bus and Sits on vacant place near Mahi, “please do call me like that, and that too in front of everyone” in low voice to mahi.

“As if you are the prime minister of India and you feel ashamed of it, Comn, Everyone one knows that you are ‘THE English Boy’ in the class”…… giggles Mahi.

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Four Friends Episode 1

Look, Love is something that will happen without you even notice, It is something like air, You do not know the importance of the it until it is stopped, Love is something you will have, but you will not know until you will feel it, It is something strange, something, I cant explain it, you have to experience it, That why it is called as fall in love, rather in rise with love …Abhay says this with a sarcastic smile on his face and continues

“I know, I cannot love anyone from my Class”

Varun Interrupts, ‘Cut the Crap’ man; I know all guys say that and finally think that they love the person whom stay or interact with for long. 

No, then that is not love, that is something for mutual benefits says abhay

Varun responds, ‘Mutual benefits’ you say, Comn, it is just that they feel secure and comfortable with each other.

“Yes, that what I wanted to say” with is tone rising.

What?? , Shouts Varun

Dilip with harsh cold voice, Leave it yaar, let’s go, Bus will be leaving in some time.

Dilip and Abhay went to the ameerpet bus and boarded it, Varun saying good bye to his friend and commenting, if I go into the bus now, I have to face Mahi which is far worse the Networking Class.

The Bus started to move, Varun hurried to board his bus.

Dilip was like brother to abhay, Mahi and Varun, All of them studied together in the SEC, Sharada Engineering College (SEC) named after their owners, who sold their high school and established an engineering college.

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Story of a Married Person

Once upon a time, there was lion, squirrel and elephant. All three were friends believing in each other and believed in the quote “Once a friend, is a friend for life time.”

Lion was very protective of his friends, he wanted them to live happily without any trouble and believed in ‘precaution is better than cure’ formula, so he always thought about the next day and what can he do to make life better for his friends.

 Squirrel was kindhearted, believed in lion and whatever he does. He does not say a word against Lion; he used to the world the lion has shown. Content and satisfied with what it has and what it got from lion and never bothered about the world outside his reach.




Elephant saw everyone is smaller and weaker them him, and believed he can control over them with is mighty power.He wanted to be more like Lion since everyone is afraid of his power.



The lion always bossed over the other two, “Do this, do that, don’t do this, don’t do that” were most of the words that came out of the lion’s mouth. He feared for safety of his friends so that no harm would come to his friends and always accompanied wherever they go and never allowed anyone to go out alone without his consent. He began to worry for each and everything in life and forgot to enjoy the even the small happiness that come their way. He wanted to live like the ‘Squirrel’ who enjoyed the each and every moment of the life with no regrets but never said any word about this to anyone. Elephant started to get annoyed by Lion’s attitude and started complaining to Squirrel about the lion.

Elephant:
This is not good, we have our own life, we should not be told where we should go and where not to go, who is he to boss us around like this is.

I know you are small and weak, but that does mean that we should hear everything he says, we do the take care of him, we cook food, take care of home while he is gone.

What does he do for the home? Nothing. Just can’t think of one, he just comes and sits in one place, and then orders us do to this and that. For we, do all the work without even complaining. But still he needs to change is attitude, as this cannot go on like this forever.

We can talk to lion when he comes back and ask him to do some of the work we do, that will teach him what we are going through and might come to his senses

Squirrel: Yeah!! You are right, we keep doing all the work and he sits and enjoys. Let him come back, I will do the talking

This is everyday story for a married person, Lion being the Husband who earns for the family, Squirrel being the Spouse and Elephant being the any relative, neighbor. The relationship between husband and wife are strangled not just because of the proactive-ness of the others in teaching what is right and what is wrong in your life. It is because you choose to hear them and act upon it.

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