2015-12-10 Thu

Have you ever wondered what happens to the old notes, the notes that are no longer used or are unfit for use or that are returned from circulation?

The banknotes which are fit for reissue are sent back in circulation and those which are unfit for reissue are destroyed by way of shredding after completion of examination process. Well then what happens to the shredded notes?

They are morphed into pretty paper files and calendars that you can flaunt on your desk!

The soiled and mutilated currency notes of various denominations are withdrawn from circulation through banks. The unfit currency notes are replaced with fresh ones as part of the RBI’s clean note policy and the unfit notes are turned into eco-friendly products.

The shredded currency is recycled into various products, including files, calendars and even paper weights and these products are also distributed as souvenirs to the visitors at the stalls of RBI in exhibitions.

Coins do not come back from circulation, except those which are withdrawn. Such withdrawn coins are sent for melting and re-minting.

(Information Courtesy: Reserve Bank of India official website and The Hindu.)