The Reserve Bank of India has clarified that Mahatma Gandhi’s picture has been removed from Indian currency notes. Know the truth
The Reserve Bank of India (RBI) plays a pivotal role in both printing currency notes and their demonetization. However, these critical decisions are not made solely by the RBI. The final authority rests with the Government of India, which also consults with senior economists before reaching a conclusion.
Process of Printing and Demonetization
The process of printing new currency notes or demonetizing existing ones is executed in two key stages. Initially, the RBI submits a formal proposal to the Central Government, seeking approval to print new notes. Once the application is received, the government engages in detailed discussions with a board comprising senior economists from the RBI. Upon thorough evaluation and agreement, the government grants the necessary permission to the RBI for printing the currency notes.
Collaborative Efforts in Currency Decisions
It is important to note that the government, the RBI, and the board of economists work collectively when it comes to crucial monetary decisions, including the printing of notes. Recently, rumors surfaced suggesting a significant change in Indian currency, sparking widespread curiosity and concern among the public.
Truth Behind the Rumors: Will Mahatma Gandhi’s Picture Be Removed?
A viral claim on social media has stirred speculations that Mahatma Gandhi’s image will soon be removed from Indian currency notes. It was reported that the RBI is considering replacing Gandhi’s portrait with images of Rabindranath Tagore and Dr. APJ Abdul Kalam. This claim gained traction following reports that the Security Printing and Minting Corporation of India (SPMCIL), under the Ministry of Finance, had forwarded two sets of watermarks featuring Mahatma Gandhi, Rabindranath Tagore, and APJ Abdul Kalam to Professor Dilip Sahni of IIT Delhi for selection. It was suggested that the chosen design would then be presented to the government for final approval.
Official Clarification by RBI
Addressing the swirling rumors, the Reserve Bank of India released an official statement, debunking these claims. The RBI clarified that there is no ongoing proposal to replace Mahatma Gandhi’s image on Indian currency notes. The central bank emphasized that reports suggesting the introduction of notes featuring other eminent personalities, such as Tagore and Kalam, are baseless. The RBI affirmed that there are no plans to alter the current design of banknotes.
Global Practices: Notes Featuring Multiple Personalities
While India predominantly features Mahatma Gandhi on its currency, several countries showcase multiple notable figures on their banknotes. For instance, the United States depicts personalities like George Washington and Abraham Lincoln on its dollar bills. Similarly, Japan’s Yen carries images of different influential figures. Such practices highlight the diverse approaches adopted by countries in representing their national heritage through currency.
Update on ₹10 and ₹20 Coins
Apart from the currency note rumors, concerns regarding the discontinuation of ₹10 and ₹20 coins have also been making rounds on social media. It is true that the ₹10 coin was temporarily withdrawn during the demonetization phase but was later reintroduced into the market. Additionally, the RBI introduced the ₹20 coin in 2020 to diversify the currency options available to the public.
Clarification from the Ministry of Finance
Dispelling the rumors, the Ministry of Finance has issued an official statement confirming that both ₹10 and ₹20 coins remain in circulation. The ministry further provided statistical data indicating that, as of December 31, 2024, approximately 2,52,886 lakh ₹10 notes and 79,502 lakh ₹10 coins were circulating across the country, with the total value of the coins estimated at Rs 7,950 crore.
The ministry advised the public to disregard any misinformation circulating on social media platforms. It assured that the ₹10 and ₹20 coins will continue to be in circulation and their production will proceed as usual.
Conclusion
The RBI, along with the government, continues to oversee the nation’s currency management efficiently. Recent rumors regarding the removal of Mahatma Gandhi’s image from banknotes and the discontinuation of ₹10 and ₹20 coins have been officially dismissed. Citizens are encouraged to rely on verified information from official sources and avoid spreading unverified claims.
