Facts on the question of re-monetising India

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If the government wants to introduce Rs 9 lakh crore ($135 billion)–or 35% less money than it pulled out–it will take up to May 2017, and if it wants to reintroduce the entire Rs 14 lakh crore ($210 billion) that it withdrew, that could take up to August 2017.

The crux of the problem is change, specifically the Rs 500 note, which India’s presses cannot, currently, print in adequate number.

The RBI has four presses at: Dewas (Madhya Pradesh), Nashik (Maharashtra), Salboni (West Bengal), and Mysuru (Karnataka).

The printing capacity of these presses is roughly 2,670 crore (26.7 billion) notes a year, according to the RBI’s 2016 annual report (page 90). Or roughly 7.4 crore (74 million) notes a day.

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