---
title: "Which bank holds the sole right of issuing paper notes in India?"  
description: "Which bank holds the sole right of issuing paper notes in India?"  
author: "shubham Misra"  
published: 2018-02-02  
updated: 2018-02-03  
canonical: https://answers.mindstick.com/qa/33984/which-bank-holds-the-sole-right-of-issuing-paper-notes-in-india  
category: "general knowledge"  
tags: ["general knowledge"]  
reading_time: 1 minute  

---

# Which bank holds the sole right of issuing paper notes in India?

Which bank holds the sole [right](https://yourviews.mindstick.com/view/80888/canada-the-rise-of-right-wing-fanaticism) of issuing paper notes in [India](https://www.mindstick.com/articles/336618/top-10-electric-bicycles-in-india-in-2024-to-improve-your-health)?

## Answers

### Answer by Vishal Kesarwani

**In our country, the paper currency was first issued in the late 18th century.** At first, the private banks like **Bank of Hindustan and the presidency Banks were holding the right of issuing the paper currency.** Later as per the Paper currency Act 1861, the British Government of India gained the monopoly to issue paper currency in India.

![Which bank holds the sole right of issuing paper notes in India?](https://answers.mindstick.com/questionanswer/706bcd38-c4c8-453e-9692-0ac824f375ec/images/a3e99bdf-57e4-4668-9bbc-255277be9fcc.png)\
But soon when **Reserve Bank of India came into existence in the year 1935 it solely gained the right of issuing paper currency. Being a Central Bank of India RBI is solely responsible for designing, producing and managing the paper currency our country.****\** **By consulting with government performs a routine check over security and try to enhance the security to avoid forgery of currency notes.**


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