 "Respect bank notes: RBI")
Are you prone to “showering currency notes on personalities”? If yes, the country’s central bank has an advisory for you: please show “respect” to bank notes and curb your enthusiasm.
As a part of its “clean note” campaign, the Reserve Bank of India (RBI) has appealed to the public not to use bank notes for making garlands, decorating pandals and at places of worship.
It is a common practice to shower currency notes on bride/groom in weddings and other places. For example, an MLA aspirant in Delhi was recently caught showering money on dancers in an attempt to woo voters. It is also a practice to offer garlands made of currency notes during festivals.
RBI said it had been taking measures to supply clean notes across the country and urged everybody to contribute their bit to its efforts.
Experts said RBI could only appeal, as there is no specific provision under the Banking Regulation Act, 1949, or under the RBI Act, 1934, to check such misuse of notes.
Splurging of currency notes on celebrities and offering cash garlands to political personalities during election rallies have been a common practice in India. With the 2014 general election campaigns about to begin, cases related to showering of bank notes have already emerged.
Former Uttar Pradesh Chief Minister Mayawati of the Bahujan Samaj Party also faced public flak when she accepted a garland worth Rs 20 lakh, entirely made of Rs 1,000 notes. She was gifted this garland during the party’s 25-year celebrations.
As a part of its “clean note” campaign, the Reserve Bank of India (RBI) has appealed to the public not to use bank notes for making garlands, decorating pandals and at places of worship.
It is a common practice to shower currency notes on bride/groom in weddings and other places. For example, an MLA aspirant in Delhi was recently caught showering money on dancers in an attempt to woo voters. It is also a practice to offer garlands made of currency notes during festivals.
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“Such actions deface the bank notes and shorten their life,” said RBI, adding the notes should be respected as they are a symbol of the sovereign and the public should not misuse these.
RBI said it had been taking measures to supply clean notes across the country and urged everybody to contribute their bit to its efforts.
Experts said RBI could only appeal, as there is no specific provision under the Banking Regulation Act, 1949, or under the RBI Act, 1934, to check such misuse of notes.
Splurging of currency notes on celebrities and offering cash garlands to political personalities during election rallies have been a common practice in India. With the 2014 general election campaigns about to begin, cases related to showering of bank notes have already emerged.
Former Uttar Pradesh Chief Minister Mayawati of the Bahujan Samaj Party also faced public flak when she accepted a garland worth Rs 20 lakh, entirely made of Rs 1,000 notes. She was gifted this garland during the party’s 25-year celebrations.