No plans to introduce Rs 15 currency notes: Govt
New Delhi: There is no proposal to introduce currency notes of Rs 15 denomination, Parliament was informed today.
“At present, twenty rupee notes are in circulation and there is no proposal to introduce fifteen rupee note,” Minister of State for Finance Jayant Sinha said in a written reply to Lok Sabha.
He was responding to a question by three Members of Parliament on whether the government or RBI is planning to issue Rs 15 note.
The Minister, however, said that the government had already announced to print Rs 1 note again from January 1.
“Accordingly, government had decided to print 150 million One Rupee notes per annum,” Sinha said.
Currently, currency notes of denominations of 1, 2, 5, 10, 20, 50, 100, 500 and 1,000 are in circulation.
To another question, Sinha said the government has initiated steps to manufacture paper for printing of banknotes within the country.
One new additional line of paper machine with an annual production capacity of 6,000 MT and two lines of paper machines of 12,000 MT capacity have been established at Hoshangabad and Mysore, respectively.
“Commercial production from the new lines is expected to commence by the end of 2015,” Sinha added.
Presently, paper required for printing banknotes is imported while inks are procured within the country.