New Delhi: Delhi Chief Minister Arvind Kejriwal has appealed to the Centre to include the pictures of Lord Ganesha and Goddess Lakshmi on the currency notes as it may help to improve the country’s current economy status. He further clarified that he wasn’t asking to change the currency notes, instead was requesting for new currency notes to include the pictures of Lakshmi and Ganesha.
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Kejriwal said, “Everyday new currency notes are printed. These pictures can be added then,” Kejriwal added two gods were associated with prosperity. “Indonesia is a Muslim majority country and has only 2-3 per cent Hindus and they have Ganesh ji’s photo on their currency… when Indonesia can do why can’t we do.”
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The statement has ensued in a controversy with several calling it wrong appeal.
Who designs currency notes in India?
India's central government and Reserve Bank of India (RBI) have the authority to choose the design of currency notes. The Central Board of the RBI and the Center must both approve any changes to the design of currency. The central government is the only entity with the authority to alter the design of rupee notes.
As per Section 25 of the RBI Act, 1934, “The design, form and material of bank notes shall be such as may be approved by the [Central Government] after consideration of the recommendations made by Central Board.”
RBI’s Department of Currency Management looks after the affair of the currency management and has the responsibility of looking after the functions. “Currency management essentially relates to issue of notes and coins and retrieval of unfit notes from circulation. This work is performed through 18 issue offices of the Reserve Bank and a wide network of 4,195 currency chests, 488 repositories and 3,562 small coin depots managed by banks and Government treasuries,” the RBI said in its official website.
What’s the process in designing the currency?
The Department of Currency Management of the RBI is responsible for working on the design of the rupee note if it needs to be updated. It transmits the design to the RBI before sending it to the central government for approval. Final approval of the currency note design comes from the Center.
RBI’s Department of Currency Management addresses policy and operational issues related to –
- Designing of banknotes
- Forecasting demand for notes and coins
- Ensuring smooth distribution of banknotes and coins throughout the country and retrieval of unfit notes and uncurrent coins from circulation
- Ensuring the integrity of bank notes
- Administering the RBI (Note Refund) Rules
- Reviewing/rationalising the work systems/procedures at the issue offices on an ongoing basis
- Dissemination of information on currency related matters to the general public.
