In a bid to ease the currency crisis in India, the Reserve Bank of India (RBI) has sought the help of the Indian army. At least 200 army men have been deployed to work on a ‘war-footing’ at the currency note printing units across the country to aid staff members in the 24×7 printing process. Apparently, now Indian army has launched its surgical strike to support Prime Minister Narendra Modi’s demonetization move to free the nation from corruption and malpractice.
200 soldiers posted at the currency note printing units
Amid crash crunch situation in India, Bharatiya Reserve Bank Note Mudran Pvt Ltd in Mysuru, the main unit have posted at least 200 army men who are helping out with the physically laborious printing in Mysuru to assist its staff in the 24×7 printing process. While previously two-three of its five mains were operational, in the light of the emergency, all five mains were made functional.
5.1 crore notes printed in three shifts
According to the reports, the unit printed around Rs 5.1 crore. The staff works round the clock too in three shifts, which includes transporting the paper, loading the machines, overseeing the printing process, packaging, loading and unloading, and various other tasks, all done under strict protocol and high security. Surprisingly, the men are also ensuring security during the export process.
How money moves across the country
Currency notes are printed in Nasik (Maharashtra), Dewas (Madhya Pradesh), Mysuru (Karnataka) and Salboni (West Bengal). While the Nasik and Dewas are Govt of India property, the ones in Mysuru and Salboni are owned by RBI, through its wholly owned subsidiary, the Bharatiya Reserve Bank Note Mudran Ltd. Coins are minted in four mints located at Mumbai, Hyderabad, Kolkata and Noida. The presses have dedicated rail lines from where the currency is moved all over the country.
The newly minted notes and coins are transferred via the C-130J Super Hercules and the C-17 Globemaster aircraft to the 4,075 currency chests branches of select banks authorised by the RBI to stock currency notes and coins that RBI maintains all over the country.Of these 4,075 currency chests, 2,722 are in SBI or its associate banks and the remaining in other nationalised banks.
The Prime Minister, in a televised address to the nation on November 8, had declared that high denomination notes of Rs 500 and Rs 1000 will not be legal tender from November 8 midnight. He had said that the Government has declared a “decisive” war against black money and corruption.