Visually Impaired Friendly Currency Notes Under Consideration But It’s A Complex Process, Will Take Time: RBI To Bombay High Court

Responding to a Public Interest Litigation (PIL) seeking visually impaired-friendly currency notes, the Reserve Bank of India on Wednesday told the Bombay High Court that introducing a new series of banknotes is a complex and time-consuming process, spanning around 6 to 7 years.Senior Advocate Venkatesh Dhond for the RBI stated that RBI is aware and acknowledges the concern of visually impaired persons regarding the identification of the banknotes. He submitted that work on the next series of banknotes has been underway since 2017, with a focus on addressing the needs of the visually impaired while also considering various other intricate factors. However, given the complexities involved, the process would require substantial time, he submitted.A division bench of Acting Chief Justice Nitin Jamdar and Justice Arif S Doctor was informed that the process involves considerations like counterfeit deterrent security features, intricate printing processes, technological aspects, production feasibility, cost, and adjustments to currency production and processing systems.“The process of introducing a new series of banknotes is an extremely complicated and time-consuming process extending over a period of 6-7 years. This process involves multiple considerations, including incorporation of visually impaired friendly features. These include the security and design features that are to be included in the banknote to make them counterfeit deterrent, the intricate printing processes to achieve the same, technology considerations, production feasibility in large volumes, cost of production, changes in manufacturing techniques, adaptation of the paper production, printing machines and the entire currency dispensation and processing eco-system to any proposed changes”, as per an affidavit filed by the RBI.In the affidavit filed by the Assistant General Manager of the RBI, it was stated that the last time a new series of banknotes was introduced was in 2016. The process of introducing the new series involved extensive consultations among various stakeholders, including the constitution of a Design Committee in 2010, comprising field experts who made recommendations on the designs and sizes of the banknotes. The recommendations, along with the inclusion of features sensitive to the needs of differently-abled individuals, were submitted to the RBI in 2011, as per the affidavit.The affidavit stated that the new series of banknotes featured elements such as intaglio, identification marks, bleed lines, and varied sizes for different denominations, catering to the needs of the visually impaired while adhering to international norms and being wallet-friendly.Considering the longstanding issue, the court decided not to dispose of the PIL and deferred the hearing for twelve weeks, until October 11, directing the RBI to provide a detailed progress report on the steps taken during this period.Responding to a Public Interest Litigation (PIL) seeking visually impaired-friendly currency notes, the Reserve Bank of India on Wednesday told the Bombay High Court that introducing a new series of banknotes is a complex and time-consuming process, spanning around 6 to 7 years.Senior Advocate Venkatesh Dhond for the RBI stated that RBI is aware and acknowledges the concern of visually impaired persons regarding the identification of the banknotes. He submitted that work on the next series of banknotes has been underway since 2017, with a focus on addressing the needs of the visually impaired while also considering various other intricate factors. However, given the complexities involved, the process would require substantial time, he submitted.A division bench of Acting Chief Justice Nitin Jamdar and Justice Arif S Doctor was informed that the process involves considerations like counterfeit deterrent security features, intricate printing processes, technological aspects, production feasibility, cost, and adjustments to currency production and processing systems.“The process of introducing a new series of banknotes is an extremely complicated and time-consuming process extending over a period of 6-7 years. This process involves multiple considerations, including incorporation of visually impaired friendly features. These include the security and design features that are to be included in the banknote to make them counterfeit deterrent, the intricate printing processes to achieve the same, technology considerations, production feasibility in large volumes, cost of production, changes in manufacturing techniques, adaptation of the paper production, printing machines and the entire currency dispensation and processing eco-system to any proposed changes”, as per an affidavit filed by the RBI.In the affidavit filed by the Assistant General Manager of the RBI, it was stated that the last time a new series of banknotes was introduced was in 2016. The process of introducing the new series involved extensive consultations among various stakeholders,...

Visually Impaired Friendly Currency Notes Under Consideration But It’s A Complex Process, Will Take Time: RBI To Bombay High Court

Amisha Shrivastava

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Amisha Shrivastava

Visually Impaired Friendly Currency Notes Under Consideration But It’s A Complex Process, Will Take Time: RBI To Bombay High Court

Amisha Shrivastava

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INR 1099+GST

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Amisha Shrivastava

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