RBI Denies Info on Old Currency Notes Deposited in J & K

RBI  Refuses to  share data on Old Currency Notes Deposited in J & K

Jammu, 16/03/2017: Contrary to the general perception that Reserve Bank of India is well aware of all the transactions made by the companies and Individuals in the bank accounts, but the fact is otherwise or must say shocking, yes the Reserve Bank of India Has itself stated that it does not keep such data.

In an official communiqué in response to an RTI application of applicant Raman Sharma, the Chief Public Information Officer of the Reserve Bank of India vide their letter number RBIND/R/2017/50598 dated 16/03/2017 have stated that the sought information is not available in the form in which it is sought and rejected his RTI plea.

Earlier in his RTI plea dated 14/Feb/2017, Raman had asked for detail of total number of currency notes of Rs. 2000 and Rs. 500 that were issued  to different banks/financial institutions operating in Jammu and Kashmir State  between the period 08/Nov/2016 to 31/Dec/2016.

In the same RTI plea, the applicant also wanted to know from the Central bank about the total number of old currency notes of Rs. 1000 and Rs. 500 that were deposited in different banks/financial institutions operating in J & K State , between the period 08/Nov/2016 to 31/Dec/2016.

While responding 1^st part of the application, the RBI invoked section 7(9) of the Right to Information Act 2009 and said collecting such information would divert disproportionally the resources of the bank as such information is not available with it.

 Expressing displeasure over the response of the Reserve Bank of India, the information seeker Raman accused it of stone walling and shying away from transparency, he said it is unbelievable that such a highest and statutory body is unaware of the currency notes distributed and deposited in banks.

 He also referred the preamble of the RBI act 1934 which states  the basic functions of the bank as “...to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage."   

published in State Times, Kashmir Times, Kashmir Observer, Early Times, The News Now and others.

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