The Reserve Bank of India has dismissed reports claiming a large chunk of Rs 500 notes are missing. Citing RTI responses, reports had claimed that while the mints issued 8810.65 million pieces of newly designed Rs 500 notes, the RBI had received only 7260 million. However, the central bank on June 17 said such reports are not correct.
“The Reserve Bank of India (RBI) has come across reports circulating in certain sections of the media alleging missing of banknotes printed by banknote printing presses. The RBI emphasizes that these reports are not correct,” the RBI said.
According to the RBI’s statement, such reports were based on an erroneous interpretation of RBI responses received from printing presses.
“These reports are based on erroneous interpretation of information collected under the Right to Information Act, 2005 from the printing presses,” the RBI said.
“It may be noted that all banknotes supplied from printing presses to RBI are properly accounted for. It is further informed that there are robust systems in place for reconciliation of banknotes printed at the presses and supplied to RBI which include protocols to monitor production, storage and distribution of banknotes,” it added.
Also Read: Rs 2000 exchange, deposit last date: Daily limit, validity, where to return and from when
The RBI has also urged members of the public to rely only on information shared by it on such matters.
“Members of the public are, therefore, requested to rely on the information published by RBI from time to time in such matters,” the RBI said.
Meanwhile, the RBI recently decided to withdraw Rs 2000 notes from circulation. While these high-value-currency notes continue to remain legal tender, members of the public have been asked to deposit their Rs 2000 notes in bank accounts or exchange them with other currency notes by September 30. A daily limit of Rs 20,000 has been set for the exchange of Rs 2000 notes. However, there is no limit on the number of Rs 2000 notes that can be deposited in a bank account.
