India has proposed to print foreign currencies on commercial basis. To prevent the circulation of fake currencies our three neighbour countries have asked for printing their currencies in India. Our government is also actively considering the proposal.
India uses ultra modern technology in printing the currency notes.Hence, our neighbours have approached our government for printing their currencies.Prior to independance,India has printed the courrencies for Burma (the present Myanmar) and the Central East Asian Countries.But this is the first time India is actively considering the proposal of printing the currencies of the foreign countries.
In the present India,our currencies are printed in four places,Nasik (In Maharashtra),Deevas (In Madhya Pradesh),Mysore, (Karnataka),Salfoni (In West Bengal).Of the printing presses situated in those currency printing centres, Nasik and Mysore are under the control of the Reserve Bank of India and all other centres are at the direct control and management of the Central Government.
The above said printing presses if function at two shifts, we will be printing currencies to the tune of 2,500 crores per annum.But we need only 1,500 crores per annum for our circulation .Hence India is actively considering the proposal of our neighbours to print their currencies.However it remains a secret, to whom India is going to print currencies.