The RBI issued a statement terming the information disclosed in the RTI as 'completely wrong', saying that the Reserve Bank of India has a complete account of all the notes that arrive.
New Delhi: The central bank dismissed claims that a large amount of Rs 500 notes had disappeared from the RBI vault. On Saturday, the Reserve Bank of India (RBI) informed that the information about the disappearance of Rs 500 notes is completely wrong. Misrepresentation of information collected from banknote printing presses under the Right to Information Act 2005. According to the central bank, the RBI has a complete account of all the notes that come from the printing press.
From the information published recently in the Right to Information Act application by a social worker named Manoranjan Roy. It is claimed that Rs 176.065 crore 500 notes worth Rs 88,032.5 crore have gone missing from RBI's vaults. As soon as this information was revealed, there was a natural uproar. However, the RBI issued a statement terming the information disclosed in the RTI as 'completely wrong', saying that the Reserve Bank of India has a complete account of all the notes that arrive. The Reserve Bank of India has come to know about the complaint of disappearance of Rs 500 banknotes from the banknote printing press recently broadcasted in the media. RBI says this report is completely wrong. The whole process of printing, collection and distribution of notes goes through a specific management. It has a strict protocol or rules, which are always followed. Clearing up this confusion, the central bank said that the RBI regularly releases various information in this regard. So common people should rely on Reserve Bank for banking information.
According to information received in the RTI, 375.450 million notes of the newly designed Rs 500 were printed at the mint in Nashik from April 2015 to December 2016. But as per RBI records, only 345.000 million printed notes have reached the Reserve Bank. No one can say where this 1,760.65 million 500 rupee notes printed in the new design went! This includes 210 million notes printed at the Nashik mint between April 2015 and March 2016. However, no official of the Reserve Bank agreed to coment about the mysterious disappearance of notes from the RBI vault. Raghuram Rajan was the governor of apex bank RBI during the period when the notes in the vault were not accounted for.
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