Reserve Bank of India and Clean Money Policy

Saturday, January 25, 2014

The Reserve Bank of India will completely withdraw from circulation all bank notes issued before 2005. All bank notes issued before 2005 can be easily identified as they do not have the year of printing mentioned on them. One of the reasons for withdrawing the currency notes issued before 2005 is the similarity of design in the notes which are in circulation. After withdrawing the bank notes issued before 2005, the presently available bank notes will have strong security features which will help in checking counterfeiting. One of the new and interesting features introduced in the bank notes in 2006 was the anti-xeroxing security feature for the currency notes which were of the denomination of Rs. 50, Rs. 100, Rs. 500 and Rs. 1000. The latest step taken by RBI to withdraw notes before 2005 is in the direction of maintaining a clean money policy. According to RBI?s annual report about 14.1 billion soiled bank notes were processed and removed from circulation during the tenure of 2012-2013.

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