The banking regulator however refuses info on total print order of new ₹500 notes citing 'confidentiality'
Continuing its stance of 'confidentiality' maintained since 8 November last year when decision regarding demonetisation was announced, India's banking regulator has now denied information sought under RTI Act regarding size and value of the print order for new ₹500 notes.
Interestingly, the Reserve Bank of India refused to disclose the details like number of new ₹500 tenders ordered for printing in 2016-17 and expenditure incurred so far seeking exemption under the section 8(1)(a) of the Right to Information Act, 2005.under the Right to Information Act 2005.
The section bars information under the Act, disclosure of which would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State, relation with foreign State or lead to incitement of an offence.
Responding to another query raised in the application, the regulator has stated it spent ₹3.09 for each new ₹500 note as cost towards paper, printing and other charges.
The new design notes were printed by the RBI owned Bharatiya Reserve Bank Note Mudran Private Limited, says the RTI reply sought by activist Anil Galgali.
The new ₹500 remained elusive till mid of December across India causing huge convenience to people who struggled using ₹2,000 notes in those difficult days. It was assumed the RBI didn't issue printing orders for ₹500 notes on time.
There is still huge gap between demand and supply of the ₹500 notes. While the RBI is tight lipped over most of the issues related to demonetisation, activists and experts are curious why even most basic information is being rejected repeatedly.
Galgali says,"I haven't asked the name of contractors involved in the process. Sharing of basic information with the people of India would have restored RBI's reputation to some extent."
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