Reports on ‘missing’ banknotes misinterpretation of info: RBI – Times of India
MUMBAI: The Reserve Bank of India (RBI) has denied reports suggesting a discrepancy between the quantity of banknotes printed and the amount supplied to the RBI during the 2015-16 period. The central bank has responded to allegations circulating in certain media outlets and circulated in social media, emphasizing that these reports are inaccurate.
According to the RBI, these claims stem from a misinterpretation of information obtained through the Right to Information Act, 2005, from the banknote printing presses. The RBI clarifies that all banknotes supplied from the printing presses to the central bank are duly accounted for. Furthermore, robust systems are in place to ensure the reconciliation of banknotes printed at the presses and those supplied to the RBI. These systems encompass protocols for monitoring the production, storage, and distribution of banknotes.
In light of the clarification, the RBI urged the public to rely on information published by the central bank regarding such matters. The news reports alleged that there was a discrepancy between the quantity of notes printed and the quantity of notes received by the bank.
According to the RBI, these claims stem from a misinterpretation of information obtained through the Right to Information Act, 2005, from the banknote printing presses. The RBI clarifies that all banknotes supplied from the printing presses to the central bank are duly accounted for. Furthermore, robust systems are in place to ensure the reconciliation of banknotes printed at the presses and those supplied to the RBI. These systems encompass protocols for monitoring the production, storage, and distribution of banknotes.
In light of the clarification, the RBI urged the public to rely on information published by the central bank regarding such matters. The news reports alleged that there was a discrepancy between the quantity of notes printed and the quantity of notes received by the bank.
