According to Mukherjee, the mega currency paper mill was being set up so that India could become self-reliant in printing currency notes and to check the growing circulation of fake ones.

The RBI also has plans to introduce polymer notes in the four metros and a fifth city too, on a pilot basis, and subsequently extend it to other cities. The RBI intended a total of 17 billion notes for the fiscal year 2009-2010, requiring 18,000 metric ton of banknote paper, mostly imported. "The requirement of notes and demand for currency paper is projected to go up". The 12,000-metric tonne Mysore plant will be built on the extended 400-acre area over the next three years.

Among the four high-security presses, two are government-owned presses  at Nashik in Maharashtra and Dewas in Madhya Pradesh. The other two, subsidiaries of the RBI, are at Mysore and Salboni in West Bengal.