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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.

National News

India and Pakistan to stop all firing and military action: MEA

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New Delhi, May 10: A few minutes after US President Donald Trump announced a “full and immediate ceasefire” between India and Pakistan, the Ministry of External Affairs (MEA) said that both sides would stop all firing and military action on land, air and sea with effect from 5 PM Indian Standard Time, on Saturday.

“The Director General of Military Operations of Pakistan called the Director General of Military Operations of India at 1535 hrs earlier this afternoon. It was agreed between them that both sides would stop all firing and military action on land and in the air and sea with effect from 1700 hrs Indian Standard Time today,” Foreign Secretary Vikram Misri said in a short media briefing.

“Instructions have been given on both sides to give effect to this understanding. The Director General of Military Operations will talk again on the 12th of May at 1200 hours,” the Foreign Secretary added.

Earlier, US President Donald Trump announced a “full and immediate ceasefire” between India and Pakistan without sharing any details of the negotiations or the ceasefire.

US Secretary of State Rubio also said in a State Department statement that he and Vice-President J D Vance conducted the ceasefire negotiations.

“After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a full and immediate ceasefire,” President Trump wrote on Truth Social, the social media platform he owns.

“Congratulations to both Countries on using Common Sense and Great Intelligence. Thank you for your attention to this matter!” he added.

Secretary of State Rubio said in a separate statement: “Over the past 48 hours, Vice President Vance and I have engaged with senior Indian and Pakistani officials, including Prime Ministers Narendra Modi and Shehbaz Sharif, External Affairs Minister Subrahmanyam Jaishankar, Chief of Army Staff Asim Munir, and National Security Advisors Ajit Doval and Asim Malik.

“I am pleased to announce the Governments of India and Pakistan have agreed to an immediate ceasefire and to start talks on a broad set of issues at a neutral site. We commend Prime Ministers Modi and Sharif on their wisdom, prudence, and statesmanship in choosing the path of peace,” he stated.

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National News

Trump says India and Pakistan ‘agree to full and immediate ceasefire’

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Donald Trump says “India and Pakistan have agreed to a full and immediate ceasefire”.

In a post on social media platform Truth Social, the US President says: “After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE.

“Congratulations to both Countries on using Common Sense and Great Intelligence. Thank you for your attention to this matter!

We have not heard this from either India or Pakistan, stay with us for the latest developments.

Pakistan and India have agreed to a ceasefire with immediate effect, Deputy Prime Minister of Pakistan, Ishaq Dar says.

He adds: “Pakistan has always strived for peace and security in the region, without compromising on its sovereignty and territorial integrity!”

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Maharashtra

Maharashtra Cyber Department warns against fake news circulation amid rising India-Pak tensions

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Mumbai, May 10: The Office of the Additional Director General of Police, Maharashtra Cyber Department, on Saturday issued an advisory warning against the circulation of fake news amid cross-border tensions, asking the citizens to show restraint.

“Spreading false information, knowingly or unknowingly, is a punishable offence under relevant provisions of law. Maharashtra Cyber strongly advises all citizens to exercise restraint and discernment while consuming and sharing information, particularly in relation to matters of national importance. The Government of India maintains official communication channels and verified platforms for issuing statements, updates, and press releases concerning national security and defence matters. Citizens are urged to rely exclusively on these official sources for information and are firmly discouraged from forwarding or amplifying unverified messages, videos, or images that may contribute to social discord or misinformation,” said the advisory.

The department has appealed to all individuals to act responsibly, verify facts from authorised sources, and report any suspicious or misleading content at the earliest opportunity.

“In view of the prevailing cross-border tensions, accurate and timely information concerning developments at the border and adjoining regions holds vital importance for citizens. However, Maharashtra Cyber has observed with concern that amidst the dissemination of critical information, several instances of fake news are being circulated across various digital platforms. This misinformation not only misleads the public but also promotes confusion and unrest within society,” said the advisory.

“A considerable volume of this fake content pertains to alleged army movements, strategic operations, or retaliatory measures from neighbouring countries. Such unverified and misleading content poses a serious risk to national security and may contribute to the escalation of tensions. Unsocial elements appear to be exploiting the sensitivity of the situation by generating and distributing this fake news with the intention of gaining followers, inciting panic, or manipulating public perception,” said the advisory.

Taking cognisance of these developments, Maharashtra Cyber has issued several notices for the removal of such false narratives across social media and communication platforms. The department remains fully committed to maintaining a secure and trustworthy information environment and will continue to coordinate with platform operators and enforcement agencies to curb the spread of misinformation.

The Cyber Department’s advisory comes a day after Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde warned that the government will take stern action against those spreading fake news on social media.

CM Fadnavis, at the meeting he chaired to review the security arrangement and preparedness amid escalating conflict between India and Pakistan, asked the administration to study the central government’s ‘Union War Book’ in depth and inform everyone about it.

Police cyber cells in every district should monitor social media and identify handles that are helping Pakistan and take action against them. If anyone is helping the enemy or spreading false information, take action against them, he said at the meeting.

Further, Eknath Shinde said, “Spreading fake news on social media is a serious crime. Strict action would be taken against it. We request that people not film, video, and broadcast whatever preparations are being made by the military and coast guard forces, as it is important from a security perspective.”

He announced that the government will initiate strong action against those engaged in spreading fake news on social media.

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