Thursday, 12 September 2013

DON'T USE CURRENCY NOTES FOR MAKING GARLANDS: RBI

MUMBAI: Making garlands of currency notes, a practice followed in Indian marriages and political rallies, has been sought to be discouraged by the Reserve Bank.

"The Reserve Bank of India has appealed to members of public not to use banknotes for making garlands, decorating pandals and places of worship or for showering on personalities in social events, etc," an RBI release said today.

Such actions, it said, deface the banknotes and shorten their life.

"...banknotes should be respected as they are a symbol of the Sovereign and public should not misuse them, and help in increasing the life of banknotes," the RBI added.

The Reserve Bank also stated that it has been taking all measures to supply clean banknotes across the country and urged the members of public to contribute their mite to its efforts in pursuing a "clean note policy" for the country.

In past too, the RBI had made a similar appeal. There is no specific provision under the Banking Regulation Act, 1949, or under RBI Act, 1934 to check or prevent such misuse of currency notes.

Source : http://economictimes.indiatimes.com

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KARIMNAGAR, TELANGANA, India
Working as a Postal Assistant from March 28, 2011 Karimnagar Head Post Office and worked as Divisional treasurer for NFPE Union from February 03, 2013 to April 19, 2015.