Scribbled, soiled currency notes now have zero value from Jan 1, 2016 by RBI
Posted on: 11/Dec/2015 12:38:18 PM
This news has been approximately since last 2 years, though, banks have started implementing it across India with effect from 1st June, 2016. According to a notice put up in State Bank of India, they will not accept any notes that have something written on them.
Whereas the policy was announced nearly a year back, and banks were asked to implement it from January 1st, 2014, it was not enforced by banks. However, it will not be strictly implemented to ensure clean currency notes.
They might not be aware, but Indian Government loses crores worth of currency notes, as they are defaced by scribbling on them.
Deputy Governor of RBI said, Our aim is to create awareness among the people that they should not write anything on the currency notes and need to keep the currency notes clean.
RBI has not yet officially acknowledged this announcement; but the news has been widely spread over news and social media. We have sought a confirmation from RBI related to this, and still waiting for any official reply from their end.
None the less, even if the news is not true, we as responsible citizens should abstain from writing anything on currency notes as it brings down our economy; and moreover writing anything on currency notes is punishable by law. So why to do it? We will keep you updated on this news.
