Press Information Bureau
Government of India
Ministry of Finance
07-August-2015 17:50 IST
Clean Note Policy-Withdrawal of Soiled/Mutilated Notes from Circulation and Putting Adequate Quantity of Fresh Notes into Circulation
The Reserve Bank of India (RBI) has informed that the object of ‘Clean Note Policy’ is withdrawal of soiled and mutilated notes from circulation and putting adequate quantity of fresh notes into circulation. The policy includes mechanization of cash processing at RBI, currency chests and branches having daily cash deposit above Rs. 50 lakh and directions to Banks not to staple the notes and to issue machine sorted notes only through ATMs and counters. Due to the implementation of Clean Note Policy, most of the notes in circulation are clean and genuine.
RBI has informed that few branches of State Bank of India (SBI) in Gujarat displayed notices in their premises that the currency notes with writing on it would not be accepted w.e.f. June 30, 2015. RBI had advised the corporate office of SBI to remove such notices which was promptly complied by SBI.
RBI has appealed to the members of public on July 16, 2015 not to inscribe anything on bank notes as it damages the notes and will not allow common man to identify features of genuine notes.
This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today.
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