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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

Delhi Police arrest three in illicit liquor supply case

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New Delhi, Aug 22: In a major crackdown on the illegal transportation and supply of liquor, the Anti-Auto Theft Squad (AATS) team of the North-East District of Delhi Police arrested three persons and recovered 778 quarters of Haryana-marked illicit liquor along with two taxis allegedly used to transport the consignment.

The action was carried out on August 21, 2026, after Head Constable Deepak, along with Head Constable Anuj and Constable Mukesh, was conducting area patrolling duty near Maujpur Chowk.

At around 6:30 a.m., the police team received information from a secret informer that two taxis carrying illicit liquor from Haryana would arrive near Seelampur Metro Station. The taxis’ numbers were also shared by the informer.

Acting on the information, the police team reached the location. At around 7:30 a.m., both taxis arrived and were intercepted. Three persons were apprehended, while another individual reportedly managed to flee from the spot.

A search of the vehicles led to the recovery of 399 quarters of illicit liquor from taxi HR55AX3345 and 379 quarters from taxi DL1ZD5015, taking the total recovery to 778 quarters.

The arrested accused have been identified as Vinit Chauhan (35), owner of taxi bearing number — HR55AX3345; Akash Sharma (25), driver of taxi bearing number — DL1ZD5015; and Vishal (23), who was allegedly accompanying the other accused.

During interrogation, the accused reportedly disclosed information about the source of the illicit liquor. Police are verifying the information and conducting further investigation to identify other individuals allegedly involved in the supply chain.

A case has been registered as FIR No. 288/26 under Section 33 of the Delhi Excise Act at Seelampur Police Station. Police said none of the three arrested accused has any previous criminal involvement on record. Further investigation is underway, according to police.

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Business

Banks raise $72.8 billion in forex inflows till Aug 21, FCNR(B) deposits reach $65.4 billion: RBI

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New Delhi, Aug 22: The Reserve Bank of India (RBI) on Saturday said that authorised dealer banks have raised a massive $72.848 billion in forex inflows till August 21, and a major chuck came from FCNR (B) deposits at $65.397 billion.

External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) under Reserve Bank’s Swap facility helped raised another $7.451 billion till August 21.

RBI had introduced a special USD-INR forex swap facility covering FCNR(B) deposits, ECB and OFCB inflows on June 8, 2026.

“As already announced vide Press Release dated August 14, 2026, the Scheme is open till August 31, 2026 for FCNR(B) deposits, and up to December 31, 2026 for ECBs and OFCBs,” The Research Bank said in a statement.

The massive foreign inflows arrive as Indian banks have stepped up their efforts to attract FCNR(B) deposits by offering higher interest rates after the Reserve Bank of India (RBI) suddenly cut short the deadline for its dollar-rupee swap window to August 31, from September 30.

The swap facility, announced in June to boost the inflow of dollars amid a weakening rupee, was originally available until the end of September, but the RBI abruptly shortened this by a month due to the “encouraging response” to the facility, which resulted in the required amount of foreign exchange flowing into the country.

While there may be valid reasons to justify an early closure of the RBI’s FCNR(B) deposit scheme, the most likely reason could be that the target for dollar mobilisation has already been achieved with inflows at $57 billion, and another $25-30 billion could easily flow in the remaining days of August, taking the total collections to around $85 billion, an SBI Research report said earlier this week.

According to the SBI report, “we don’t believe that the cost of swap could have been a constraining factor”.

“Our estimates show that the cumulative cost would amount to around 15 per cent of the corpus, or $10.5 billion. While this appears sizeable in absolute terms, it needs to be viewed against the scale of India’s foreign-exchange reserves rather than the FCNR(B) corpus alone,” the report argued.

Meanwhile, foreign exchange reserves jumped $9.905 billion to $716.90 billion during the week ended August 14, according to data released by the Reserve Bank of India (RBI) on Friday. The latest increase comes a week after the country’s forex reserves had surged by $14.1 billion to $707 billion, marking their highest level in the current financial year.

The rise in reserves was supported by inflows under the RBI’s FCNR(B) deposit scheme, which began to reflect in the country’s foreign exchange reserves.

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National News

CJP vs villagers: Rajasthan school shifted within 24 hours in Jaipur

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Jaipur, Aug 22: A day after a dispute between the Cockroach Janata Party (CJP) and villagers of Rampura over an inspection of a government school in Jaipur escalated into allegations of assault, intimidation and a law-and-order breakdown, the government school was shifted to a building about 50 metres away, within 24 hours of Friday’s clash.

After the confrontation, CJP founder and convenor Abhijeet Dipke had warned of an escalation stating that he would sit on a dharna in Jaipur if steps weren’t taken within 48 hours to improve the condition of the school.

The Rampura government school was shifted to a house in the village on Saturday morning. More than 16 children were present at the new location along with two teachers.

The room being used for classes had previously operated as a grocery shop. At the time of inspection, some children were also seen studying outside in the Sun.

A blackboard had been placed outside one of the rooms, while the room itself contained a storage chest and other belongings.

Children also reported that the ceiling fan inside the room was not working, leaving them uncomfortable in the heat.

On Saturday morning, both sides filed complaints against each other at Shivdaspura police station, accusing one another of assault and creating a ruckus.

Both parties have also alleged that police personnel are putting pressure on them.

CJP national spokesperson Ashutosh Ranka alleged that party workers were assaulted in the village on Friday and that their clothes were torn. He demanded the immediate arrest of those responsible.

Ranka further alleged that people from outside the village were brought in for the attack and claimed that some of those involved were later seen with local BJP MLA Kailash Verma. He described the incident as a “pre-planned attack” and alleged that stones were used with the intention of causing serious harm.

According to Ranka, police personnel were not present at the spot despite repeated attempts to contact them. He said the CJP has made videos of the incident public and demanded an impartial investigation by the Rajasthan Police.

Ranka also alleged that Pratap Nagar police were intimidating him and putting pressure on him. He claimed police personnel were questioning CJP workers about him and his family.

In their complaint to the police, villagers alleged that the CJP had disturbed the atmosphere in Rampura.

They claimed that the arrival of a large number of people, allegedly carrying weapons, created fear in the village and that children were now frightened to attend school.

The villagers have denied the allegations made by CJP workers and sought action over what they described as intimidation and disorder.

Villagers said they want the government to reconstruct the school building at the earliest so that classes can resume properly within the village.

Reacting to the developments, Ranka said the CJP would not be intimidated and would continue its ‘School Thik Karo’ campaign over the condition of government schools.

He alleged that Education Minister Madan Dilawar would face embarrassment over the condition of Rajasthan’s schools and said he would personally visit schools again.

Ranka also said the CJP’s demand could now extend beyond school-related issues to seeking Dilawar’s resignation.

Meanwhile, Dilawar posted on social media that continuous efforts were being made to strengthen government schools in Rajasthan, including infrastructure development, construction and repairs, smart classrooms, laboratories and other essential facilities.

The allegations made by both sides have yet to be independently established.

The police investigation and the FIRs filed by the two parties are expected to determine the sequence of events and responsibility for Friday’s clash.

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