Uncirculated one-Rupee notes

Kashmir Times. Dated: 5/11/2019 11:44:56 PM

Dear Editor,
Only very few are aware of one-rupee notes having been re-issued on 06.03.2015 after being discontinued two decades back. The note earlier discontinued with those of rupees two and five was re-issued about two decades later subsequently being reprinted even now only because of bureaucratic craze of secretary-level officers of Union Finance Ministry. Only one-rupee notes bear signature of a secretary-level officer in Government of India. Other distinct feature in one-rupee note is that it is issued by Government of India while notes of all other denominations are issued by Reserve Bank of India RBI as printed on notes.
Even majority of bank-employees have not seen re-issued one-rupee notes, what to talk of general public. These notes are still sold at extra-ordinary heavy premium multiple times the face-value. Central government and RBI should immediately stop printing of one-rupee notes, and initiate an enquiry on re-issue of these notes on 06.03.2015 with existing print-stock sold as souvenir in attractive plastic-packs so that government rather than currency-dealers may earn heavy premium on one-rupee notes.
Since ten-rupee coins are not accepted by public, coins should be only in denominations of rupees one and five with ten-rupee plastic notes issued for long life. Rather recently introduced 20-rupee coins must also not be minted. Once ten-rupee plastic-currency is successful, plastic-currency may be introduced for other denominations also.
—Madhu Agrawal,
1775 Kucha Lattushah
Dariba, Chandni Chowk Delhi.

 

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