Fact Check: Is RBI planning to introduce currency notes with photos of APJ Kalam, Tagore?

New Delhi, Jun 06: There were several media reports that claimed that the Reserve Bank of India is contemplating to introduce watermarks of Nobel laureate Rabindranath Tagore and 11th Indian President APJ Abdul Kalam on Bank notes.

It was reported that the Finance Ministry along with the RBI might soon discuss considering using images of Rabrindranath Tagore and APJ Abdul Kalam on a new series of banknotes of a few denominations.

However, the central bank has rebutted media claims about introducing the watermark of one of the greatest Indian writers and the Missile Man of India on bank notes.

"There are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency and banknotes by replacing the face of Mahatma Gandhi with that of others. It may noted that there is no such proposal in the Reserve Bank," RBI said in a release.

The government's fact-checking arm, the PIB also said the claim is fake.

Taking to Twitter, PIB wrote,''Several media reports claim that @RBI is planning to introduce new currency notes with the photos of Dr. APJ Abdul Kalam & Rabindranath Tagore. ▶️This Claim is #FAKE.'' It further added that the RBI clarifies no change in existing currency notes.

It may be noted that the Reserve Bank has the sole authority to issue banknotes in India. Reserve Bank, like other central banks the world over, changes the design of banknotes from time to time.

The RBI has introduced banknotes in the Mahatma Gandhi Series since 1996 and has so far issued notes in the denominations of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 in this series.

(written by Madhuri Adnal)