Indian growing economy is focusing on a new campaign for designing a symbol for Indian Rupee. Just like US dollar ($) or Pound (£), the symbol would reflect the Indian Economic Growth presence in global market. The symbol should be as simple as Rs. Common Man of India is not a designer and he can’t design the symbol whenever writing an amount in Indian Currency. Government has even announced that the designer who will provide the best suitable design for Indian Currency will be awarded with 2.5 Lakhs INR. One can vote for the best suitable currency on Times Of India website where they have collected some samples from visitors.
But what is BUZZING me is wherever I go; I find new information that comes free with every note let it be of any value. I dono why the hell people use currency as waste paper, Though the clean note policy of Reserve Bank of India and Banking Regulation Act clearly restrict any writing or inscription on the watermark window of currency notes, people still write or print on notes due to unawareness. India spends about 2000crores per year as loss to change the currency with new once and now Indians on their ‘Text Messages’ to make masses aware about it. As this notes can’t be used in standard transactions.
You might be thinking why I’m into this ill just say I’m doing the best I can spreading the message and awaking people to direct some onto the right path. In Varanasi a new trend of printing the name of bridegroom and bride on the watermark window of currency notes has begun and when some TOI reporters contacted the replies from bankers and police where the most interesting. They admitted it was illegal but din know the IPC to register the case. On the other hand, when the RBIs guidelines and Banking Regulation Act were checked it was found that writing on the watermark window of bank notes is punishable under Section 35A of the Banking Regulation Act 1949. In order to give the citizens good quality currency notes, the RBI had already prepared a Clean Note Policy and in November 2001 issued instructions to all the banks not only to do away the stapling of note packets but also urged members of public not to write on the currency notes.
The RBI surely has issued a comprehensible guideline in this view some years ago but still there are no takers of it. The bankers who were surprised to see the name of bride and groom printed on a currency note did not overlook to expose that they had seen currencies with political slogans and symbols of parties in past. But, they had nothing to say when asked what action was initiated in such matter. While a number of people are starting a new trend of utilizing the watermark window to remain memorable for long, the ordinary people are still forced to write their contact details on the same window of higher denomination notes by the telecom and other service providers at the time of bill clearance. This custom is followed to trace the origin of the note if it turns out fake.
Now even if a symbol for Indian Rupee would be recognized, but what aid would it give to Indian people who merely use it as a waste paper to write their rough work …..Indirectly damaging the economies of India …do stop anyone who scribbles on notes .In this way you can help the economy and be a responsible citizen...act Smart....before its too late....
The RBI surely has issued a comprehensible guideline in this view some years ago but still there are no takers of it. The bankers who were surprised to see the name of bride and groom printed on a currency note did not overlook to expose that they had seen currencies with political slogans and symbols of parties in past. But, they had nothing to say when asked what action was initiated in such matter. While a number of people are starting a new trend of utilizing the watermark window to remain memorable for long, the ordinary people are still forced to write their contact details on the same window of higher denomination notes by the telecom and other service providers at the time of bill clearance. This custom is followed to trace the origin of the note if it turns out fake.
Now even if a symbol for Indian Rupee would be recognized, but what aid would it give to Indian people who merely use it as a waste paper to write their rough work …..Indirectly damaging the economies of India …do stop anyone who scribbles on notes .In this way you can help the economy and be a responsible citizen...act Smart....before its too late....
JAI HIND!!!!!!!!
