Central Banking

RBI to recall 15% of notes

According to central bank sources the Reserve Bank of India plans to take up to 15% of banknotes out of circulation as part of its clean note policy.

Source: Reuters

The Reserve Bank of India (RBI), as part of its 'clean note policy' drive, will withdraw 10-15 per cent of the currency notes in circulation and inject an equivalent quantum of mint-fresh notes every year, according to a senior central bank official.

"Of the 41 billion notes in circulation, around 10-15 per cent of the soiled notes

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account