Reports of missing Rs 500 notes based on erroneous information, says RBI

The Reserve Bank of India (RBI) has clarified that recent media reports on missing Rs 500 currency notes are not correct as they are based on erroneous interpretations of data obtained under the Right to Information (RTI) Act.

“The RBI emphasizes that these reports are not correct,” the regulator said in a press release.

“These reports are based on an erroneous interpretation of information collected under the Right to Information Act, 2005 from the printing presses. It may be noted that all banknotes supplied from printing presses to RBI are properly accounted for,” the release said.

“It is further informed that there are robust systems in place for reconciliation of banknotes printed at the presses and supplied to RBI which include protocols to monitor production, storage and distribution of banknotes,” RBI said adding members of the public are requested to rely on the information published by RBI from time to time in such matters.