Central Banking

RBI aims to cut reliance on banknote paper imports by half with new mill

india-rupee

Duvvuri Subbarao, the governor of the Reserve Bank of India (RBI), on Thursday said the central bank's new banknote paper mill in Mysore would more than halve demand for banknote paper imports.

At the Sambalpur University, in Sambalpur, India, Subbarao said: "We are self-sufficient in printing capacity but we still import the paper required for printing currency. To remedy this, we are setting up a state-of-the-art banknote paper mill in Mysore with a capacity of 12,000 tons per year which shoul

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