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The Reserve Bank of India (RBI) on Sunday refuted reports that Rs 88,032.5 crore worth of Rs 500 notes have gone missing. The RBI said that all the banknotes supplied from printing presses to the central bank are properly accounted for. The reports of missing notes were based on an RTI query filed by activist Manoranjan Roy. Roy had asked the RBI how many Rs 500 notes had been printed by the governments currency mints and how many of these notes had been received by the RBI. The RBIs respo
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FAQ :
No, the Reserve Bank of India has refuted reports alleging that Rs 88,032.5 crore worth of Rs 500 notes are missing.
The reports were based on an erroneous interpretation of information from an RTI query, which showed a difference between the number of Rs 500 notes printed and those received by the RBI.
The RBI has clarified that the notes in question are not missing but are still in transit from the printing presses and will be received by the RBI in due course.
Yes, the RBI stated that robust systems are in place for monitoring the production, storage, and distribution of banknotes, ensuring they are properly accounted for.
No, the RBI has assured the public that all banknotes are properly accounted for and there is no need for concern.
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