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a) whether the Reserve Bank of India (RBI) has stopped printing one rupee
notes;
b) whether these currency notes are in vogue in the market in abundance;
c) whether 1, 2 and 5 rupees’ coins being released by Government from time to
time are disappearing from the market; and
d) if so, the action being taken by Government in this regard?
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ANSWER
MINISTER OF FINANCE
(SHRI ARUN JAITLEY)
(a) to (d): A statement is laid on the Table of the House.
STATEMENT REFERRED TO IN RESPONSE TO RAJYA SABHA STARRED QUESTION NO 487 BY
SHRI PARVEZ HASHMI TO BE ANSWERED ON 12TH AUGUST, 2014 REGARDING
DISAPPEARANCE OF COINS FROM MARKET
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(a) to (d): Printing of one rupee note had been stopped by the Government of
India during 1990s. These notes continue to be legal tender and are therefore
in circulation.
Reserve Bank of India (RBI) issues coins in the denomination of 50 paise, ?
1, 2, 5 and 10. The details of coins released by RBI and banks in to the
market for the last five years are as under:
Position at the end of March (in Million pieces)
2009-10 2010-11 2011-12 2012-13 2013-14
6870 6609 5563 6682 6759
RBI has informed that the volume of coins in circulation as on March, 2013 is
84,727 million pieces.
The steps taken by the Government and RBI to ensure availability of coins to
the public are as under:
(i) Production of coins has been increased from 5833 million pieces in
2009-10 to 7651 million pieces in 2013-14.
(ii) More remittances of coins are being sent to the Currency Chests in the
areas from where shortage is reported.
(iii) Regional offices of RBI have been advised to keep minimum balances in
their vaults and in Currency Chests to ensure availability of coins to bank
branches and members of public in every State.
(iv) Shopkeepers and other business establishments, tollgate agencies etc.
have been attached to the nearest Currency Chests for their requirements of
coins, subject to availability.
(v) The banks have been encouraged to install Coin Vending Machines for issue
of coins for which RBI provides capital subsidy.
(vi) The banks have been advised to organize coin melas for issue of coins
directly to the members of public.
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