FINANCE MINISTER LAYS FOUNDATION STONE FOR BANK NOTE
PAPER MILL AT MYSORE.

Currency continues to be a dominant means of payment in the
country's economy.The ratio of currency to GDP which was 12
percent in 1951 iscurrently at 13 percent. For a vast and growing
country like India,the indigenisation of the process of
manufacture of currency notes including its various inputs like
like paper,ink etc, is of strategic importance.

In his remarks, the RBI Governor traced the history of paper
currency in India and outlined the significance and the need for
the paper mill.He stated that it was Reserve bank of india's
responssibility as the sole issuer of notes, to make available
to the public good and clean notes in adequate quantity.