RBI issued official statement in response to reports that alleges banknote printing presses for the missing of banknotes

Reserve Bank of India has issued an official statement in response to recent media reports that allege banknote printing presses the missing banknotes. RBI emphasized reports by saying them “not correct” and “erroneous interpretation of information”. If you are unaware of the recent report here we will bring it to you.

Recently an activist named Manoranjan Roy revealed that Rs 500 rupees notes worth Rs 88,032.5 crore are missing from the Indian economy. He mentioned this data on the basis of an RTI. He mentioned that three mints had issued Rs 8,810.65 million pieces of the newly designed Rs 500 notes, but RBI has only received Rs 7,260 million, data reveals. As per the reports stating Roy, 1,760.65 million 500 worth Rs 88,032.5 is nowhere to be found.

As per the RTI, Nasik Mint supplied 1,662.000 million pieces to the RBI in 2016-2017, while the Bengaluru Mint supplied 5,195.65 million pieces and the Dewas Mint supplied 1,953.000 million pieces to the RBI during this time. Its total comes out to be 8,810.65 million pieces but RBI received only 7260 million pieces of the ₹500 notes.

But RBI has issued a statement that reads “It may be noted that all banknotes supplied from the printing to RBI are properly accounted for. It is further informed that there are robust systems in place for reconciliation of banknotes, storage, and distribution of banknotes”.