Friday 13 September 2013

A big NO to currency garlands!

In the Silver jubilee function of Bahujan Samaj Party (BSP) in 2010,the then Chief Minister Mayawati had a one woman show . She was given a garland of 1000 rupee notes by her Ministers. Back then she faced a lot of criticism. Reserve Bank of India intervened and made it clear that notes shouldn't be used for making garlands. But to no avail.

Currency garlands aren't a recent phenomena in India. They have been used in almost all the societies though for different purpose. In marriage functions, close relative and other guests gift the groom garland of notes.For the decoration of pandals, notes are used. In social events, people use money garlands to honor others. In certain societies, the situation is so bad that instead of being a practice, this has become an important tradition.

The logic behind using money garlands is still alien to me.When you can gift the money in cash, why go through the pain of getting a note garland made??There have been repeated warnings by the banker's bank to stop this secondary use. This is due to the fact that when notes are used in garlands, it leads to their soiling and shortens their lifespan. This has direct negative impact on their 'clean note policy' according to which the RBI ensures quality currency notes in the market.

The sad part is even though RBI openly disapproves the practice, it cannot do anything about the offenders. There is no specific mention of provisions under Banking Regulation Act, 1949 or under RBI Act, 1934. It is required that people understand the gravity of the matter and as responsible citizens of the State discourage using currency notes as garlands both at societal and personal level. Its important that we give respect to the notes for they are the symbol of nations sovereignty.

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