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New varnish-coated 100-rupee notes to be introduced shortly

It refers to reply in Rajya Sabha on 04.03.2020 by Union Minister of State for Finance Anurag Thakur that new varnish-coated 100-rupee notes with longer life will be shortly issued on experimental basis in five cities Shimla, Jaipur, Bhuvneshwar, Kochi and Mysore. But similar commitment by the then Union Minister of Finance Namo Narain Meena on 12.03.2013 in written reply in Rajya Sabha about introduction of plastic-currency in ten-rupee denomination has not been implemented till now. It is better if experimental plastic-currency in denomination of rupees ten may also be done simultaneously to ascertain better of the two options namely varnish-coated currency and plastic currency.

Thereafter notes in other lower denominations of rupees 10, 20, 50 and 100 also can be issued simultaneously in better of the two forms namely varnish-coated and plastic currency. However one-rupee notes restarted on 06.03.2015 after a gap of about two decades just for bureaucratic craze to be signed by a secretary-level officer rather than RBI governor should be discontinued to be printed. It may be mentioned that all other notes except of rupee-one bear signatures of RBI governor. This is why notes in other discontinued lower denomination notes of rupees 2 and 5 were not re-introduced because these notes did not bear signature of secretary-level officers.

 

MADHU AGRAWAL

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