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Ex-finance secy's signature on Re 1 note went viral

As per RBI's policy, any sort of scribbling on note degrades quality of note and reduce its life

Policy Pulse
Publish Date: May 9 2016 1:49PM | Updated Date: May 10 2016 1:53PM

Ex-finance secy's signature on Re 1 note went viral

Rendering photograph of one-rupee note which was issued by then Union Finance Secretary, Rajiv Mehraishi on 06 March 2015 is suggesting violation of RBI directives which states, ‘avoid any scribbling on the note’. 

 

“The photo clearly shows message and signatures done by then Union Finance Secretary which says with love, R Mehrishi,” says Subhash Chandra Agarwal, noted RTI Activist. The message that he wrote on the note is available on internet which interprets -- notes were ‘gifted’ to be kept as souvenir.

 

In December 2015 a message went viral on the social networking sites that banks would not accept any scribbled note from January 2016 which was later denied by the Reserve Bank of India (RBI). However they do have a clean note policy that suggests people to avoid scribbling on the note.

 

“Reserve Bank have a clear policy that any sort of scribbling on the note degrades the quality of the note and reduce its life,” the activist added. “The then Union Finance Secretary should make his position clear. If images available on internet are correct, then he should express regret on not adhering to RBI guidelines,” he said.

 

Pointing out his outlook on one-rupee note, the activist further added, “The one-rupee note is remains to be a ‘collector’s item’ because it has practically not come and will never come in actual circulation. Any further printing and even issuing of one-rupee notes should be immediately stopped.”