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Currency and banknotes will not be changed; confirms RBI

The Reserve Bank of India (RBI) confirmed on Monday that current cash and banknotes will not be affected. The RBI’s statement came following rumors that the central bank was considering making modifications to existing money and banknotes by changing Mahatma Gandhi’s picture.

‘There are speculations in certain areas of the media that the Reserve Bank of India is considering changing the present money and banknotes by replacing Mahatma Gandhi’s visage with those of others,’ the RBI stated in a statement. It should be noted that the Reserve Bank has made no such suggestion. The RBI emphasizes that there will be no changes to current cash or banknotes ‘, the central bank tweeted.

According to PTI, the finance ministry and the RBI were considering using the portraits of other renowned Indians, such as Rabindranath Tagore and APJ Abdul Kalam, on banknotes of various denominations.

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