Reports alleging missing of banknotes are incorrect: RBI

The Reserve Bank of India (RBI) said that the reports circulating in certain sections of the media alleging the loss of banknotes printed by the banknote presses are incorrect.

The RBI said in a clarification that the reports were based on a misinterpretation of information collected under the Right to Information (RTI) Act 2005 from printing presses.

according to Free Press Journal The report, which is based on data obtained under RTI by activist Manuranjan Roy, while the Mint issued 8,810.65 million pieces of newly minted ₹ 500 notes, RBI received only 7,260 million.

The report claimed “Nobody knows the whereabouts of 1,760.65 million 500 rupee notes which have mysteriously disappeared, considering the 210 million coins printed at the Mint between April 2015 and March 2016…”.

The RBI said, “It should be noted that all notes supplied from the presses to the RBI are properly accounted for. I was further informed that there are robust systems in place for the settlement of notes printed in the presses and supplied to the RBI. These include protocols for monitoring the production of notes cash, storage and distribution.

The central bank said that members of the public should rely on information published by the Reserve Bank of India from time to time in such matters.