Logic of notification about new one-rupee note

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BY MADHU AGRAWAL

It refers to Gazzatte Notification GSR 95(E) dated 07.02.2020 -Printing of One Rupee Currency Notes Rules, 2020- issued by Union Finance Ministry regarding further issue of yet another new one-rupee note, even though the earlier one issued on 06.03.2015 with several re-prints have never been in actual circulation, and its packs of 100 are mostly available at heavy premium multiple times face-value of the pack.

Interesting fact remains that one-rupee note discontinued long back about quarter-century ago subsequently later with those of rupees two and five because of their high printing cost and low life with coins in these circulations having become popular.

One-rupee note is issued evidently because of bureaucratic craze of printing their signatures. Notes of rupees two and five were not introduced after once discontinued to be printed because notes of these denominations bore signatures of Governor of Reserve Bank of India (RBI) like exists on notes of rest other denominations.

Even majority of bank-employees have not seen re-issued one-rupee notes being issued ever since 06.03.2015. System should be that either note or coin may be issued in any of the denomination. Moreover guidelines should be changed so that one-rupee note may also bear signature of RBI governor to avoid huge wastage of public-money on printing one-rupee notes only because of bureaucratic craze of printing signature of Secretary to Government of India on these one-rupee notes.

MADHU AGRAWAL is a Freelance writer

New Re 1 Note India 2020:

The Union Ministry of Finance has notified ‘Printing of One Rupee Currency Notes Rules, 2020’ vide Gazzette Notification G.S.R. 95(E) dated February 7, 2020. The notification has several details of one rupee notes to be printed under the authority of the Government of India for circulation. These include details about the colour, design, standard weight, dimensions etc. “The One Rupee notes shall be printed at the note printing presses for issue under the authority of Government of India for circulation,” the notification said. Here are details of the new one rupee note

New one rupee note dimensions

The One Rupee currency note shall be rectangular 9.7 x 6.3 cms, with its paper made of 100 per cent (cotton) rag content. The note will be 110 microns thick, weighing 90 GSM (Grams per Square Meter).