No change in existing Indian currency and banknotes, RBI clarifies
Premium- ‘It may be noted that there is no such proposal in the Reserve Bank,’ the central bank said in a statement
The Reserve Bank of India (RBI) on Monday clarified that it is not considering changes to the existing currency and banknotes by replacing the face of Mahatma Gandhi with that of others.
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.
In a statement, the central bank 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 Father of the Nation’s watermark figure occupies the pride of place on all denominations of Indian currency notes.
Earlier, several reports claimed that Rabindranath Tagore and India’s 11th President, APJ Abdul Kalam are in the race to make it to the country’s banknotes alongside Gandhi.
The Finance Ministry and the RBI are considering using the watermark figures of Tagore and Kalam on a new series of banknotes of some denominations, the report further said.