New Delhi, 18th June 2023: The Reserve Bank of India (RBI) rejected the reports of “missing ₹500 notes” as incorrect and based on an “erroneous interpretation” of information collected from banknote printing presses under the Right to Information Act, 2005. The central bank clarified that all banknotes supplied from the printing presses to RBI are duly accounted for.
The RBI further stated that strong processes are in place to assure the reconciliation of banknotes printed at presses and their subsequent supply to the RBI. This includes “strict protocols to monitor the production, storage, and distribution of banknotes.”
In light of these clarifications, the RBI has advised the public to regularly depend on information released by the RBI on such subjects.
According to the RTI statistics, the three mints issued 8,810.65 million pieces of the newly designed 500 notes. However, the RBI only received 7,260 million notes.
Between April 2015 and December 2016, the Currency Note Press in Nashik reportedly printed 375.450 million pieces of the new 500 notes. The RBI’s records, however, show only 345.000 million pieces. 210 million missing notes were allegedly published in the Nashik mint between April 2015 and March 2016, and according to the RTI, these notes were transferred to the RBI during Raghuram Rajan’s stint as governor.
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