The minting of coins and printing of currencies were done under the control and supervision of the Ministry of Finance and Ministry of Economic affairs. It was in the year 2000 where the Ministry of Economic Affairs, in their expenditure report explained that the mints and presses were a huge cost to the government and were over staffed in terms of the needs at that point of time. The commission thoroughly studied the operations of the Four mints at Mumbai, Calcutta, Noida and Hyderabad, Two Currency Note Presses at Nasik and Dewas, Two Security Printing Presses at Nasik and Hyderabad and the Security Paper Mill at Hoshangabad, nine units There were 9 key recommendations given in the report which are: Substantial downsizing of the work force in all the units except the Noida Mint. A need for improving managerial efficiency, freeing the units from the usual government procedures, which are often time consuming, be it in making appointments, floating of tenders etc. As ...
This blog simply gives you information on the coins and currencies issued in India. There will be posts on Foreign money here and there. Read the posts and be amazed with the rich history of our money and the story they try to tell us.