Newly issued 1-rupee notes available only in black-market

New one-rupee notes were issued in Match 2015 at Nathdwara Temple (Rajasthan) by the then Union Finance Secretary Rajiv Mahrishi. He had his signature printed on these notes which were re-issued after being discontinued two decades back because of small life, high printing-cost and popular coins in same denomination. Even notes of Rs two and five were also discontinued later for the same reason. But only one-rupee notes (and not of Rs two and five denomination) evidently because of bureaucratic craze of getting their signature printed on notes.

It is significant that only one-rupee notes carry signature of a Secretary to Government of India, while notes of other denominations carry signature of Governor of Reserve Bank of India, this being the reason that our bureaucrats never moved files for re-issue of notes of Rs two and five. File-notings received under RTI response that RBI opposed re-issue of one-rupee notes.

Surprisingly a fresh lot of one-rupee notes was again issued bearing signature of the then Union Finance Secretary Shaktikant Dass in March .2017 just one day prior to his retirement after getting special extension of three months.

But surprisingly only a handful people might have known about re-issue of one-rupee notes. It is even more disgusting that Rajiv Mahrishi distributed these notes to his known ones as souvenir by individually signing these contrary to RBI advisory for not writing on notes.

Since packs of hundred of one-rupee notes are available to members of public only on heavy premium ranging from 500 to 1500, central government and RBI should stop further print of one-rupee notes, and rather should take action against those responsible for initiating file for re-issue of one-rupee notes. Existing stock of one-rupee notes can be sold as official souvenir packed in attractive plastic-packing at heavy official premium.




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