RBI has recently denied the social media claims that Rs 500 notes have gone missing from the system. The claims were based on misinterpretation of information collected from Printing Presses under the Right to Information Act, 2005. Here is what you need to know:
RBI refutes claim of Rs 500 note going missing
– RBI has denied the claim of missing Rs 500 note.
– In a tweet, RBI wrote that many media reports claim that Rs 500 notes are disappearing from the system, but these reports are not correct and are based on misinterpretation of information.
– RBI has assured that all bank notes supplied to RBI from the printing presses are properly accounted for and there are robust systems in place for reconciliation of banknotes printed at the presses and supplied to the Reserve Bank of India.
– RBI has advised not to trust any such misleading news and rely on the information published by RBI from time to time.
What is being claimed?
– RTI activist Manoranjan Roy claimed in a conversation that lakhs of Rs 500 notes of the new design are missing, whose value he had told more than 88 thousand crore rupees.
– He had claimed that the country’s three printing presses printed 8810.65 million notes of Rs 500 with the new design, but the Reserve Bank received only 7260 million notes out of these.
In conclusion, RBI has refuted the claims of missing Rs 500 notes and advised people not to trust such misleading news. It is important to rely on the information published by RBI from time to time to avoid any confusion or misinformation.
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