HomeNationRBI Quashes Reports Of Mysterious Disappearance Of Rs 500 Notes Worth Rs...

RBI Quashes Reports Of Mysterious Disappearance Of Rs 500 Notes Worth Rs 88k Cr

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The Reserve bank of India on Saturday clarified that the media reports regarding the missing ₹500 notes are incorrect and are based on misinterpretation of data obtained under the Right to Information Act, 2005 from the printing presses.

According to a statement by RBI, the reports on disappearance of banknotes are not not accurate and are a result of erroneous interpretation of information obtained under RTI Act.

RBI in the statement said, ” The Reserve Bank of India has come across reports circulating in certain sections of the media alleging missing of banknotes printed by banknote printing presses. The RBI emphasizes that these reports are not correct.

These reports are based on erroneous interpretation of information collected under the Right to Information Act, 2005 from the printing presses. It may be noted that all banknotes supplied from printing presses to RBI are properly accounted for. It is further informed that there are robust systems in place for reconciliation of banknotes printed at the presses and supplied to RBI which include protocols to monitor production, storage and distribution of banknotes.”

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