What Will Happen To Our Old Notes?

    • admin@nie.com
    • Publish Date: Dec 1 2016 1:16PM
    • |
    • Updated Date: Dec 1 2016 1:29PM
What Will Happen To Our Old Notes?

In 2012, briquettes made of old notes were used in Hungary as fuel for fires to keep poor people warm during a severely cold winter.


The Reserve Bank of India, the printer and issuer of currency, has inherited a mountain of paper and will now shred and pulp it for recycling, said government sources. 
 
The process
  • Reserve Bank of India will take over a year to destroy the recently demonetised five-hundred and thousand-rupee notes. 
  • The sorting, verification and shredding of the notes is already underway at three centres in the state – Fort, in Mumbai, Belapur and Nagpur. 
  • Most RBI branches house shredding centres. The banks will send the old notes there in neat stacks and bundles to be turned into heaps of short strips.
  • Much of that will be recycled into pulp and then either fashioned into briquettes or compressed blocks. They can be used to make office stationery like calendars, paper weights, files and boards.

New method
  • This is a relatively new disposal method for the central bank. Till 2001, old or discarded currency notes were incinerated.
  • Nowadays, most central banks use soiled notes to make briquettes. Shredded notes are compressed into a thick mass, varying in size but mostly cylindrical in shape. Large-sized briquettes weigh as much as 600 kg per cubic metre.

More on spoiled notes
  • The briquettes will be largely sold for industrial use via tenders. Each kilo of briquette will fetch five or six rupees.
  • RBI regularly purges soiled and mutilated currency notes of different denominations. The central bank examines and sorts notes – those that are not usable are disposed of under the currency verification and processing system or CVPS.
  • Currency notes worth thousands of crores are taken out of circulation every month.

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Comments

Vihan R. Yalamanchili DDMS P.OBUL REDDY PUBLIC SCHOOL

The RBI should instead recycle them into biomass paper blocks so the country can use the old notes for electricity of heating temporarily.

Sarath Kumar RM Bethel Mat Hr Sec School

Quite informative.

Sarath Kumar RM Bethel Mat Hr Sec School

These papers can be reused in handicrafts.

Aadrit Banerjee Apeejay School Salt Lake

Wow! Amazing bit of information. Well I guess aren''t there any other way in which these old notes can be used. Like to fulfill our aesthetic sensibilities. And yes some of them should be kept in museums so that upcoming generations could get a chance to see them and we can also feel nostalgic when we look them 5 to 8 years hence.

V.Ananya D.A.V. Public School

we could also have them as souvenirs .

Ritvik Baweja BAL BHARTI PUBLIC SCHOOL (PITAM PUR

Nice info

Haya Naved FATHER AGNEL SCHOOL(GAUTAM NAGAR)

informative.

S.VIDHYAALAKSHMI SHREE NIKETAN MAT -

I too have that doubt. They should use it in-house an ecofriendly way.

Bhavana Jaison Atomic Energy Central School No 2

After all these strain and chaos will there be any positive outcome in the economic condition of India? Uncertainty still rules the mind of the people.

Kashish Verma Bharti Public School Swasthya Vihar

Informative!

C.Prasanna Amalorpavam Higher Secondary School - Puducherry

Informative

Himanshi Dhawan Saffron Public School

The RBI should come up with something different. Can''t this notes be recycled and used to make the new notes?

Om Badiyani Sandipani

Good

YADNYAVALKYA.A.WANJARI D.A.V Public School, Thane

OUR PRIME MINISTER SHOULD DO LIKE THIS ONLY HOW HUNGARY USED THE OLD NOTES AS FUEL FOR FIRES TO KEEP POOR PEOPLE WARM DURING IN COLD WINTER

Vajra Yalamanchili DDMS P.OBUL REDDY PUBLIC SCHOOL

our old notes will turn into a piece of junk or trash

Venya Yalamanchili DDMS P.OBUL REDDY PUBLIC SCHOOL

The people of RBI should recycle to useful things and also shall be turned into biomass paper blocks so that the country can use the old notes for energy of electricity of heating temporarily.

Venya Yalamanchili DDMS P.OBUL REDDY PUBLIC SCHOOL

It is very informative.

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