ISSUE OF NOTES

The economy cannot have the sustainable mechanism to work for the country to make the trade at the international level a proper success. This has the potential to make the delivery of services better and sustain the flow of currency. Every geopolitical entity has a specific currency system that is used to balance the trades with other countries. The notes are issued by the government-sponsored treasury only and receivable for paying a debt for a specific tender. The notes have various values and in the international market, these notes tend to have a different valuation for each other. 

“General awareness” for the note issue 

The “general awareness” for issues helps to address various systematic changes and the idea for the people to understand how the system works is important. In India, the currency notes are issued by the Reserve bank of India (RBI). The printing and the distribution of these notes are entirely under the control of RBI and the distribution process is done in various regional offices in the country. To have better “general awareness,” the RBI has distribution centres located in 19 cities in the country divided into zonal sections. It is often observed that the currency notes have a phrase written on the note “I promise to pay” this is not just a phrase rather it is regulated by a specific act of “Section 26 of Reserve Bank of India Act, 1934” that ensures that the bank is liable to pay the amount written in the banknote. 

“Social issues” related to currency development

The social issue that the note industry is currently facing is the increasing number of fake notes. It is observed that in every 10 lakhs note 250 notes are fake and the speculation can be more than what is represented here. The illegal printing of the notes “reduces the market value” of the notes to a certain amount. The international market value of the Indian currency is getting lower due to a large number of fake notes. 

“Environmental issues” associated with note development

The “general awareness” for the environmental issue with the currency is majorly associated with the elements from which the notes are made. It is observed that the currency of the Indian notes is made by using paper and sometimes it causes problems for the environment. As it is observed that the notes are not made in a way that can be used for recycling. Even if the usage of the plastic in the note is observed that too can be problematic as it harms nature. In order to make sure that environmental issues have been solved one must suggest using the polymeric substances in the place of the notes. It can be said that people have to be more and more concerned about the environmental factors that have the potential to change the environment. Polymeric can be a good substitute that has the potential to deliver the proper protection to the environment. 

“System of note issue in India” 

In order to have a better understanding and have the “general awareness” about the system of note issue, a large section of people needs to have an idea about the banking sector. It will give an idea about the various terms and regulations. The only authority in India that has the right to print the currency is the RBI except for the one rupee note that is printed by the ministry of finance. The notes are majorly based on the proportional currency-based system that will be used to make the changes and to have the proper regulation of the currency.

Conclusion

The regulation of the currency and issuing the notes are controlled by the RBI and the distribution process is controlled by various regional offices. The problems related to the issuing of the notes are described to give an idea about the major issues and how the action is taking place. It can be addressed that the environmental issue is very concerning as well that has to be discussed. The environmental issues can be solved with the help of polymeric substances that will reduce the major issues. The description has been given to make sure that the system and their values to the currency is getting controlled with the help of social awareness about the corruption and how the system can be controlled without any problem. The general awareness section is elaborated with the help of the regulatory ways in which the system is controlled in India.