Subtleties of Indian Coinage Laws. Let 1 Rp Banknote Be!
The Justice Ministry has put an end to the debate on printing the 1 Pr note, declaring that the Central Government has all the powers to print these notes. While the Reserve Bank of India is entitled to issue the 2, 5, 10, 20, 50, 100, 500, 1,000, 5,000 and 10,000 Rp notes, the 1 Rp is printed and issued by the Central Government.
“The Central Government may issue the 1 Rp note under the Coinage Act of 2011. The size, design, material and standard weight of the 1 Rp will be set by the Central Government under Sections 4 and 5, Coinage Act, 2011,” says the Justice Ministry.
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