June 18, 2023
Shocking news that Rs 500 notes worth around Rs 88 thousand crores have gone missing was published in many media.
The RTI has revealed that there is a huge difference between the Rs 500 notes printed on it and the notes received by the Reserve Bank of India.
It is said that 8,810 million new notes were issued by three Indian currency presses, but the Reserve Bank of India received only 7,260 million notes.
The remaining Rs 500 notes amounting to Rs 88 thousand 32 crore are missing, it has been revealed through the Right to Information Act. However, the Reserve Bank has issued a statement about this
A statement issued by Reserve Bank:-
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.
These reports are based on erroneous interpretation of information collected under the Right to Information Act, 2005 from the printing presses. 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.
Members of the public are, therefore, requested to rely on the information published by RBI from time to time in such matters.
There are reports in some media that currency notes printed by Reserve Bank of India (RBI) currency printing machines have gone missing. RBI insists that these reports are not correct.
These reports are based on misrepresentation of information collected under the Right to Information Act, 2005 from printing presses. It is to be noted that all the currency notes issued to RBI from the printing presses are properly accounted for.
There are robust systems in place for reconciling currency notes printed at the presses and delivered to the Reserve Bank, including protocols for monitoring production, storage and distribution of currency notes. Therefore, the public is requested to rely on the information issued by the Reserve Bank from time to time on such matters.