1. Home
  2.  |  
  3. Economy Current Affairs |  

RBI appealed against currency garlands

Sep 17, 2013 14:55 IST

The Reserve Bank of India (RBI) on 11 September 2013 appealed the public not to use bank notes for making garlands, decorating pandals and places of worship or for showering on personalities in social events etc.

RBI while issuing the appeal explained that using notes in these activities deface the banknotes and shorten their life. Banknotes should be respected as the symbol of the Sovereign and public should not misuse them. People should help in increasing the life span of banknotes.

The Reserve Bank of India is taking all measures to supply clean banknotes across the country and urged the members of public to contribute their mite to its efforts in pursuing a clean note policy for the country.

There is no specific provision under the Banking Regulation Act, 1949, or under RBI Act, 1934 to check or prevent such misuse of currency notes.

Is this article important for exams ? Yes95 People Agreed
Read more Current Affairs on: Reserve Bank of India , RBI , currency garlands

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK