Currency: India
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The Times of India 15 June 2013 | The Times of India 15 June 2013 | ||
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'''See chart''' | '''See chart''' | ||
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==Unaccounted for rupees in circulation== | ==Unaccounted for rupees in circulation== | ||
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[http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=CAP/2013/08/04&PageLabel=3&EntityId=Ar00301&ViewMode=HTML The Times of India] 2013/08/04 | [http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=CAP/2013/08/04&PageLabel=3&EntityId=Ar00301&ViewMode=HTML The Times of India] 2013/08/04 | ||
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Mumbai: Millions of currency notes worth hundreds of crores of rupees that have apparently never been printed at our nation’s mints have mysteriously made it to the vaults of the Reserve Bank of India over the years. | Mumbai: Millions of currency notes worth hundreds of crores of rupees that have apparently never been printed at our nation’s mints have mysteriously made it to the vaults of the Reserve Bank of India over the years. | ||
Revision as of 19:39, 6 August 2013
This is a collection of newspaper articles selected for the excellence of their content. |
The steady depreciation of the rupee
See the accompanying chart
The Times of India 15 June 2013 See chart
Unaccounted for rupees in circulation
Millions of notes not printed in mints land in RBI vaults
Bank, Press Records Don’t Tally
Hemali Chhapia TNN
The Times of India 2013/08/04
Mumbai: Millions of currency notes worth hundreds of crores of rupees that have apparently never been printed at our nation’s mints have mysteriously made it to the vaults of the Reserve Bank of India over the years.
A series of RTI applications reveal that while the mismatch between currency bills printed and those transported to the RBI is seen across denominations, it is more pronounced in the case of higher value notes — those of Rs 1,000 and Rs 500.
Take the Rs 1,000 notes. The redesigned bill was introduced in October 2000. Ever since, the two authorized mints — Bharatiya Reserve Bank Note Mudran Private Limited, Bangalore, and Currency Note Press, Nashik — have printed a total of 4,452.3 million bills. But RBI records show that it has received 4,462 million notes, an excess of 9.7 million notes. That means the RBI has received Rs 970 crore more than what was actually printed.
WHAT THE RBI SPOKESPERSON SAYS
You have collected the data of printing from the press and the supply received from RBI. You cannot do that because there are a lot of logistics involved. Numbers must be compared from the one source; either you take RBI numbers or the printing presses’ numbers. You cannot mix and match.
