‘Make in India’ initiative: RBI Governor opens Bank Note Ink Unit in Mysuru
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‘Make in India’ initiative: RBI Governor opens Bank Note Ink Unit in Mysuru

March 30, 2022

Lays foundation stone for Learning and Development Centre

Mysore/Mysuru: Reserve Bank of India (RBI) Governor Shaktikanta Das was on a visit to Mysuru on Mar. 28 where he dedicated ‘Varnika,’ the Ink Manufacturing Unit of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), to the nation. BRBNMPL has set up ‘Varnika’ with an annual ink manufacturing capacity of 1,500 MT to enhance the security of bank notes. It is a boost to the ‘Make in India’ initiative. It ensures that the entire requirement of bank note printing inks is produced in-house.

This unit also manufactures Colour Shift Intaglio Ink (CSII) and meets the entire requirements of bank note printing presses in India, which has resulted in cost-efficiency and self-sufficiency in bank note ink production. The Governor also laid the foundation stone for the establishment of a Learning and Development Centre (LDC) of the BRBNMPL.

The 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.

The 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 bank note production, quality and supply. This centre will be governed by BRBNMPL.

Self-sufficiency in bank note manufacturing

In his address, Shaktikanta Das emphasised the importance of building capacity to achieve 100 percent self-sufficiency in bank note manufacturing in the country.

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He recognised the substantial progress made towards achieving self-reliance in the bank note production ecosystem in India and emphasised the importance of continuously building capacity (in terms people, process, and technology), research and development and innovation to achieve 100 percent self-sufficiency in bank note manufacturing in the near future.

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, he noted.

“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 bank notes,” he added.

The event was attended by Executive Director of RBI Jose K. Kattoor, Managing Director of BRBNMPL Manas Ranjan Mohanty, Managing Director of BNPMIPL K.G. Viswanathan, Government officials, senior officials from State Bank of India, officers and staff of BRBNMPL and BNPMIPL.

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