Don't replace Gandhi with other leaders on banknotes:RBI

A Reserve Bank panel has decided against the inclusion of any other national leader's image on banknotes saying that no other personality could better represent the ethos of India than Mahatma Gandhi.

On the advice of government, RBI had constituted a Committee for designing future currency note in October 2010, Finance Minister Arun Jaitley said in a written reply to the Lok Sabha.

He said the Committee, inter alia, deliberated on the issue of changing the existing image of Mahatma Gandhi and inclusion of certain other personalities in the new design of banknotes.

"After due consideration, the Committee decided that no other personality could better represent the ethos of India than Mahatma Gandhi," Jaitley said.

In reply to a question, Jaitley said during the last three years RBI has received 21 complaints abut circulation of fake currency through Automated Teller Machines (ATMs) installed by various public/private banks.

"RBI seeks a report upon receiving a complaint in this regard and takes such action as deemed fit based on the report, including issue of advisory to the concerned bank...," he said.

RBI has issued instructions to banks that banknotes in denominations of Rs 100 and above should be re-issued by banks over their counters or through ATMs only if these banknotes are duly checked for authenticity/genuineness and fitness by machines.