Violation of RBI directives

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Dear Editor,

Photos of new one-rupee notes issued on 06.03.2015 with messages and signatures done by hand by the then Union Finance Secretary are available on internet like the notes were ‘gifted’ to be kept as souvenir. But guidelines of Reserve Bank of India (RBI) state “ The Reserve Bank has also stated that in pursuance of its clean note policy, it keeps requesting banks and members of public not to write on the currency notes as writing defaces them and reduces their life.”

The then Union Finance Secretary should make the position clear. If images available on internet are correct, then he should express regret on not adhering to RBI guidelines while being the then bureaucratic-head of Union Finance Secretary.

However for all practical purposes, new one-rupee note remains to be in fact a ‘collectors’ item’ because it has practically not come and will never come in actual circulation. Any further printing and even issuing one-rupee notes should be immediately stopped.

Present print-stock of one-rupee notes can be sold in attractive plastic-packing only at premium-price as souvenir, rather than putting these in actual circulation because limited number of printed one-rupee notes will otherwise also not be coming in actual circulation with every one getting these likely to keep as collectors’ item.

 

 

Rakhi Sharma

Trikuta Nagar, Jammu

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