From the printing of notes to circulation, the work is done in a very secure environment. It is also necessary, because the currency of a country is the backbone of its economy. Now if you are told that even after having such tight security, a large amount of new notes have gone missing, then you might find it funny, but it is true.
Disclosure from RTI question
According to reports running on several media platforms including Mint, the notes that have gone missing are of the new design of Rs 500. It is surprising that the value of the missing notes is not 1000-500 but more than 88 thousand crore rupees. This has been revealed by the questions asked under Right to Information i.e. RTI.
1000 crore notes missing
RTI activist Manoranjan Roy had asked questions in this regard and the figures he got in response were surprising. It is being told that the value of lakhs of Rs 500 notes with the new design that have gone missing is Rs 88,032.5 crore. According to the information received, the three printing presses together printed 881.065 crore notes of 500 rupees with the new design, but the Reserve Bank got only 726 crore notes out of these. In total, 176.065 crore notes of Rs 500 went missing, whose value is Rs 88,032.5 crore.
Printing is done at these three places
Notes are printed in three printing presses in India. These printing presses are Bharatiya Reserve Bank Note Mudran Private Limited (P) Limited, Bangalore, Currency Note Press, Nashik and Bank Note Press, Dewas.
All the three mints gave these figures
In response to RTI, Nashik Mint said that it supplied 166.20 crore notes of Rs 500 to the Reserve Bank in 2016-17. Similarly, during 2016-17, Bengaluru Mint supplied 519.565 crore notes and Dewas Mint supplied 195.30 crore notes. In this way all the three mints together supplied 881.065 crore notes of 500 rupees to the Reserve Bank. At the same time, the Reserve Bank says that it got only 726 crore notes of 500 rupees.
So many notes disappeared during Rajan’s era
According to the data found in RTI, the Nashik Mint printed 37 crore 54 lakh 50 thousand notes of new design 500 during April 2015 to December 2016, while the Reserve Bank has a record of only 34 crore 50 lakh notes. Of the 176.065 crore notes that went missing, 21 crore were printed at the Nashik Mint from April 2015 to March 2016, when Raghuram Rajan was the governor of the Reserve Bank.
Activist demanded investigation
According to reports, RTI activist Roy has also sent these figures to the Central Economic Intelligence Bureau and ED. He has demanded an inquiry into this mess. Till now nothing has been officially said about this matter from the Reserve Bank. After this information came to the fore, everyone is surprised that despite the printing and supply of notes being done with utmost security, where did the notes disappear on such a large scale.
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