RBI to Introduce Tagore and Kalam's Watermarks on Banknotes?

The Reserve Bank of India (RBI) and the Security Printing and Minting Corporation of India (SPMCIL), under the Finance Ministry, are considering the introduction of watermarks featuring Rabindranath Tagore and APJ Abdul Kalam alongside the current representation of Mahatma Gandhi on all denominations of banknotes.

Earlier, the banknotes featured watermarks of the Ashoka Emblem, which were later replaced with Mahatma Gandhi's image. However, for the first time, the RBI is contemplating the inclusion of images of notable personalities other than Mahatma Gandhi on the banknotes.

RBI and SPMCIL have reportedly forwarded two distinct sets of samples featuring watermarks of Gandhi, Tagore, and Kalam to IIT-Delhi Emeritus Professor Dilip T Shahani. Professor Shahani has been tasked with choosing between the two sets and presenting them for final consideration by the government, as reported by The New Indian Express.

In 2021, the RBI instructed Bharatiya Reserve Bank Note Mudran Pvt Ltd in Mysore and SPMCIL’s Security Paper Mill in Hoshangabad to create their respective sets of watermark samples. Subsequently, the RBI and SPMCIL sent these samples to Professor Shahani for detailed examination of the "finer aspects" of the samples.

However, the RBI has issued a clarification, emphasising that there will be no alterations to the existing currency and banknotes. In its Press Release dated today, the RBI stated, "There are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency and banknotes by replacing the face of Mahatma Gandhi with that of others. It may be noted that there is no such proposal in the Reserve Bank."