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A report by the Free Press Journal published recently stated that ₹ 88,032.5 crore of ₹500 notes were missing. The good news is, the RBI has refuted the claims. So, the notes are all safe. But wait, what exactly happened?
As per the Free Press Journal, according to an RTI, filed by Manoranjan Roy, activist, the mints had produced 8,810.65 million pieces of the newly created ₹500 notes. However, according to RBI announcements, only 7,260 million have been received. The difference between the two figures indicates that there are 1,550 million notes that have not been properly accounted for or accounted for by the RBI. The report also states that another RTI showed that the press at Nashik had issued 210 million pieces of ₹500 notes in FY16, whereas the RBI records do not show such receipt.
So, what did the RBI say about this? What could be the explanation behind the missing ₹500 notes? B Baskar, Senior Deputy Editor, explains.
Credits
Reporter- B Baskar, Camera- Bijoy Ghosh, Video- Jayapriyanka J & Nabodita Ganguly)
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