RBI says rupee is a symbol of sovereign and should not be misused by people.
In an attempt to seek respect for the Indian currency, the Reserve Bank of India has appealed to the public not to use banknotes for making garlands, decorating pandals and place of worship or for showering on personalities in social functions.
Making garlands of currency notes is a practice prevalent in Indian marriages and huge political rallies.
Giving justification for this call, the central bank said that such actions spoil the banknotes and shorten their life. Rupee is a symbol of sovereign and should not be misused by people.
RBI said it has been taking measures to provide clean banknotes across the country and advised people to help them in its efforts of practising a ‘clean note policy’ for the country.
Though, this is not the first time that such an appeal is being made; in the past also RBI had made similar appeals but their voice was left unheard.
Reportedly, there is no specific provision under the Banking Regulation Act, 1949, or under RBI Act, 1934 to keep a tab on or prevent such mishandling of currency notes.
However, the question remains the same that how such steps will help in bringing back the value of Indian rupee against dollar?
