Guwahati: The Reserve Bank of India (RBI) has stated that “no change in existing currency and banknotes” would be made amidst reports of new currency notes being considered for circulation.
RBI made the response as some media outlets had reported that photos of Bengal’s greatest icon Rabindranath Tagore and former President APJ Abdul Kalam, also known as the missile man, were under consideration for the new series of banknotes of certain denominations.
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In a notification, the RBI said, “There are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency and banknotes by replacing the face of Mahatma Gandhi with that of others. It may be noted that there is no such proposal in the Reserve Bank.”
The RBI’s annual report further highlighted that the number of banknotes of Rs 2,000 denomination has steadily declined over the years to touch 214 crore or 1.6 per cent of the total currency notes in circulation at the end of March this year.
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According to the annual report, the number of Rs 500 denomination notes rose to 4,554.68 crore in circulation at the end of March 2022 as compared to 3,867.90 crore in 2021.
It may be mentioned that there were reports that some banknotes would come out with images of Rabindranath Tagore and APJ Abdul Kalam on them. These claims were widely circulated on social media. However, RBI has clarified that there are no such plans.