OMG! Rs 1 note sold online

Bengaluru, Nov 22: Now, one rupee notes are being sold online as Reserve Bank of India (RBI) has resumed printing of Re 1 notes nearly after two decades.

Despite facing controversies, RBI earlier in 2015 relaunched Re 1 notes in India.

The Re 1 notes are being sold online without having the clarity whether currency in circulation can be sold or not.

Total 1,000 notes of Re 1 have been priced at Rs 9,499 by one of the most popular e-commerce sites, eBay.

While a few bankers raised doubts over legality of selling it online, others feel that RBI may not take any action against those person(s) who are willing to pay money for it.

MR Krishnamurthy, a senior chartered accountant said, "If a person is buying this note, then it does not mean that he is buying it for transaction purpose."

However, a banker, on the condition of anonymity, was quoted as saying, " I don't think selling of currency notes is allowed. It has never been done with new notes in the past."

Meanwhile, a person, who is an expert on currency policies, was quoted as saying, " Even the 1970 Re 1 notes are legal tender, but after the RBI and/or the government discontinued with printing, it became a collectible. Similarly, the RBI is not going to print the Re 1 note again after this (2015) batch. And in that sense, it is a rare commodity for numismatists."

OneIndia News