Notes are found in collections more than circulation
ormer governor of the Reserve Bank of India, Duvvuri FSubbarao had vacated the office of India's Central banking
institution in September 2013 but the Bank Note Press
Dewas somehow did not take notice and continued to print Rs 20, Rs 100
and Rs 500 denomination notes with the signature of the former RBI
governor (D Subbarao) in 2014. Till the time error came to notice, the
Dewas press had printed as many as 372 million pieces of currency notes
from January to February 25 (ICCG News reported the news in its July 2015
issue).
As known by the ICCG News, few of these error notes of 500 rupees
which got into circulation, were being sold and collected by collectors as it
was believed that other remaining (wrongly printed) notes would be
rejected as CAG (Comptroller and Auditor General) had noted that there
was a 'very remote' possibility of these notes to get into circulation.
But recently, the RBI has issued those 100 rupees denomination notes
which were wrongly printed by the Dewas mint in early 2014. Collectors
have started collecting all these notes and they are now being sold above
premium by dealers and on online portals.
Mint mistakes has always been loved by collectors, no matter in what form they are.
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