Mysore, Mar. 22 (JP&KMC) - Union Finance Minister Pranab Mukherjee arrived in city today. He landed on the helipad at the RBI Note Printing Press in Metagalli here at 12.40 pm.
He was accompanied by the Governor of Reserve Bank of India (RBI) D. Subba Rao and Deputy Governor Usha Thorat. Pranab Mukherjee performed Bhoomi Puja for the currency paper production unit to be constructed at the Press premises sitting on the dais by pressing the button to unveil the foundation stone plaque.
The State Government has already given power supply through feeder lines to the Note Press, which has a total area of 370 acres. Another 30 acres will be acquired for the new unit.The note press is functioning in Mysore for the last 14 years.
Pranab Mukherjee, addressing the gathering, said that there was an increase in the circulation of counterfeit notes from across the border and hence it had become necessary to print currency notes that cannot be duplicated.
Subba Rao, who also spoke, said that one billion polymer bank notes will be printed at the Press, which can be recycled as plastic later.
Usha Thorat, in her welcome address earlier, said that this was the first indigenous bank note production unit for which cotton will be brought from Coimbatore.
Courtesy : Star Of Mysore