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Mysterious Disappearance Of 500 Notes Worth 88,032.5 Cr Raises Security Concerns For Indian Economy

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While the Reserve Bank of India had a problem with an extra 339.95 million currency notes deposited in vaults between 1999-2010, more than the output of the government security printing presses, now, it is faced with an altogether different issue. While the mints issued 8,810.65 million pieces of the newly designed Rs 500 note, the RBI has only received 7,260 million.

Value of the missing notes is a staggering Rs 88,032.5 crore

No-one knows the whereabouts of the 1,760.65 million of Rs 500 notes which have mysteriously gone missing, taking into account the 210 million pieces printed in the Nashik mint between April 2015 and March 2016. The value of the missing notes is a staggering Rs 88,032.5 cr.

Despite repeated attempts, RBI spokesperson refuses to comment on the missing notes from RBI vaults

RBI spokesperson did not comment despite repeated attempts.

Data obtained under RTI

India prints its currency notes at three government mints – the Bharatiya Reserve Bank Note Mudran (P) Limited, Bengaluru, Currency Note Press, Nashik, and Bank Note Press at Dewas and sends them to the RBI vaults, for further distribution in the Indian economy.

According to data obtained under the Right to Information Act (RTI) by activist Manoranjan Roy, 375.450 million pieces of the newly designed Rs 500 note were printed by the Currency Note Press, Nashik, but RBI records having received only 345.000 million pieces printed between April 2015 and December 2016. In another RTI reply last month, the Currency Note Press, Nashik, said for the financial year 2015-2016 (April 2015-March 2016,) 210.000 million pieces of Rs 500 were supplied to the RBI when Raghuram Rajan was the RBI governor.

The Report of the Currency Note Press, Nashik, has shown the newly designed Rs 500 currency notes were supplied to the Central bank but the RBI annual report does not mention receiving any Rs 500 notes with the new design, in its Public Domain Annual Report on Currency Management. Further information provided by the Currency Note Press, Nashik, mentions 1,662.000 million pieces of the newly designed Rs 500 note were supplied to the RBI in 2016-2017.

Huge Mismatch

The Bharatiya Reserve Bank Note Mudran (P) Limited, Bengaluru, supplied 5,195.65 million pieces of Rs 500 to the RBI and the Bank Note Press, Dewas, supplied 1,953.000 million pieces to the RBI in 2016-2017, but the RBI has received only 7,260 pieces of the newly designed Rs 500 note from all three printing presses. There is a mismatch, as 8,810.65 million pieces of the newly designed Rs 500 note were printed by the three mints in all, but the RBI received only 7,260.000 pieces.

Missing pieces no joke

“The apex bank is indifferent to the harm caused to the Indian economy with such a huge mismatch in highdenomination Indian currency notes printed in the mints and the total received in the RBI vaults. The missing 1,760.65 million pieces is no joke. It raises security concerns about our Indian economy and its stability,” said Manoranjan Roy.

Activist has written to Central Economic Intelligence Bureau and ED

He has written to the Central Economic Intelligence Bureau and the Enforcement Directorate to investigate the irregularities in the millions of high-value currency notes printed in the three mints. Senior RBI officials have defended the mismatch, citing the huge logistics in the printing and supply of currency notes. But, it is strange it should take so long for notes to reach the RBI vaults.

Crime

Tripura: Police Seize 44 Kg Of Drugs Worth Rs 2.52 Lakh At Agartala Railway Station

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Agartala (Tripura): Agartala Government Railway (GRP) Police seized 44 kg of drugs worth Rs 2.52 lakhs at Agartala Railway Station, railway police said on Tuesday.

About The Seizure

Acting on a tip-off, police on Tuesday conducted a search near the 13th rail track on the Agartala to Jirania route, near Agartala Railway Station. During the operation, authorities recovered 44 kg of dried cannabis from bushes alongside the tracks. The narcotics were allegedly being smuggled out of the state via train.

According to the police, the seized cannabis has an estimated market value of approximately Rs 2.52 lakhs. The Agartala GRP (Government Railway Police) station has launched an investigation to identify the individuals responsible for this illegal consignment. Further action will be taken based on the findings of the investigation.

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National News

Atishi Likely To Address First House Session As Delhi Chief Minister On September 26 And 27

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Delhi: Aam Admi Party leader and the successor of Arvind Kejriwal as the Chief Minister of Delhi, Atishi Marlena Singh, will likely address her first session as the head of the Delhi assembly next Thursday, September 26. The Delhi government has announced a two-day special session on September 26 and 27, as reported by party officials.

Atishi Takes Over After Kejriwal As Delhi CM

The choice to convene a special session aligns with Arvind Kejriwal stepping down as the chief minister and CM-designate Atishi asserting her right to govern. A senior party member mentioned that the meeting’s agenda is still undecided.

When Will Atishi Take Oath As Delhi’s New CM?

Atishi Marlena, the newly appointed Chief Minister of Delhi, has not yet been sworn in. Although the dates haven’t officially been announced yet, as per a few reports, the oath-taking ceremony is scheduled to occur before the Delhi Assembly session. The Speaker’s Office has announced that the Delhi Assembly session is scheduled for September 26 and 27.

Atishi To Address House

Atishi is scheduled to address the house on the challenges confronting Delhi and to assure the path forward. The member stated that it is uncertain if the oath-taking ceremony will be finished by then, as it will rely on the dates given by LG VK Saxena after approval from the President.

SK Sharma, a constitutional expert and a former secretary to the Lok Sabha and the Delhi assembly, said, “The power to appoint minister and chief minister is with the President. The head of legislative group has laid stake to power. Since AAP has brute majority, there should be no hurdle.”

“A date for oath-taking ceremony needs to be fixed, which is at the discretion of the President and LG.” Sharma said.

“Atishi will be speaking at the house on issues being faced by Delhi and the way ahead. It is not yet clear whether the oath-taking ceremony would be complete by then, as it will depend on the dates provided by LG VK Saxena after concurrence from the President,”

Assembly Sessions

Throughout the course of a year, there are typically three significant assembly sessions conducted, namely the budget session, monsoon session, and winter session. However, there have been occasions where the legislative assembly has convened more than three sessions to address the urgent matters presented by the government. There must also not be a gap longer than six months between two sessions.

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National News

Aligarh Police Sub-Inspector Sits On Railway Tracks To End Life After Alleged Harassment By Judge, Saved by Cops

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Vigilant police officers saved Sub-Inspector Sachin Kumar’s life as he attempted suicide by sitting on railway tracks in Uttar Pradesh’s Aligarh, allegedly due to harassment by Judge Abhishek Tripathi. Judge Tripathi has yet to respond to the allegations.

A video of the incident has surfaced on social media, showing several policemen approaching Kumar while he was sitting on the tracks. They are seen lifting him up and reassuring him, with one officer saying, “What happened? It’s okay. Stand up.” Kumar responded, “No sir, I don’t want to listen to anything.”

In the video, Kumar explains that the judge had repeatedly summoned him to his chamber, verbally abused him, and threatened him. Despite this, his colleagues managed to persuade him to leave the tracks.

According to reports, Kumar had recently arrested five individuals for bike theft and presented them in court. However, Judge Tripathi accused him of detaining innocent people and misbehaving. Distressed by these accusations, Kumar attempted to take his own life.

The police are investigating the incident to clarify the circumstances and address the concerns raised.

4 dead, 6 injured in explosion at firecracker factory in Firozabad

Meanwhile, in a separate incident, four people have died and six people who were injured are undergoing treatment after an explosion occurred at a firecracker factory in Firozabad’s Naushera on Tuesday, said senior police official on Tuesday.

The House has collapsed due to the explosion and several people are feared to be trapped under rubble, said police.

“In Shikohabad PS area, firecrackers were stored at a house and a blast occurred there. Due to the impact of the blast, the roof of a nearby house collapsed. Police took out 10 people from the debris…6 people are undergoing treatment at a hospital and 4 people have died…further rescue operation is still underway,”

Meanwhile, Firozabad District Magistrate Ramesh Ranjan said that the rescue operations are underway.

“Rescue team is present at the spot. District hospital and sub-district hospital, both are on high alert…team of doctors, ambulance, fire team, disaster team, all are present at the spot,” Firozabad District Magistrate Ramesh Ranjan said.

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