Logic of notification issued about new one-rupee note

Kashmir Times. Dated: 2/12/2020 2:29:46 PM

Dear Editor,
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,
1775 Kucha Lattushah Dariba, Chandni Chowk, Delhi.

 

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