<P> After independence, new designs were introduced to replace the portrait of George VI . The government continued issuing the ₹ 1 note, while the Reserve Bank issued other denominations (including the ₹ 5,000 and ₹ 10,000 notes introduced in 1949). All pre-independence banknotes were officially demonetised with effect from 28 April 1957 . </P> <P> During the 1970s, ₹ 20 and ₹ 50 notes were introduced; denominations higher than ₹ 100 were demonetised in 1978 . In 1987, the ₹ 500 note was introduced, followed by the ₹ 1,000 note in 2000 while ₹ 1 and ₹ 2 notes were discontinued in 1995 . </P> <P> The design of banknotes is approved by the central government, on the recommendation of the central board of the Reserve Bank of India . Currency notes are printed at the Currency Note Press in Nashik, the Bank Note Press in Dewas, the Bharatiya Reserve Bank Note Mudran (P) Ltd at Salboni and Mysore and at the Watermark Paper Manufacturing Mill in Hoshangabad . The Mahatma Gandhi Series of banknotes are issued by the Reserve Bank of India as legal tender . The series is so named because the obverse of each note features a portrait of Mahatma Gandhi . Since its introduction in 1996, this series has replaced all issued banknotes of the Lion capital series . The RBI introduced the series in 1996 with ₹ 10 and ₹ 500 banknotes . At present, the RBI issues banknotes in denominations from ₹ 5 to ₹ 2,000 . The printing of ₹ 5 notes (which had stopped earlier) resumed in 2009 . </P> <P> As of January 2012, the new' ₹' sign has been incorporated into banknotes of the Mahatma Gandhi Series in denominations of ₹ 10, ₹ 20, ₹ 50, ₹ 100, ₹ 500 and ₹ 1,000 . In January 2014 RBI announced that it would be withdrawing from circulation all currency notes printed prior to 2005 by 31 March 2014 . The deadline was later extended to 1 January 2015 . Now further dead line was extended to 30 June 2016 . </P>

Who prints and supplies the currency notes in india