Lower denomination notes to be coinised

 THE Reserve Bank of India (RBI) has informed that in view of the short life span of the lower denomination notes of Rs. 1, Rs. 2/- and Rs. 5/- and the high cost involved in printing and processing of soiled notes of these denomination, the Government has decided to discontinue the printing of lower denomination notes. The notes of these denomination have been coinised. However, due to inadequate production capacity of Government Mints, it was decided to re- introduce Rs. 5/- bank note to supplement the Rs. 5/- coins. There is no shortage of Rs. 10/-, Rs. 20 bank notes and Rs. 50/- in the country.

 



This information was given by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Rajya Sabha