Buy a One-rupee Note by Paying Rs.99 Online in eBay Website

Now One Rupee earns you Hundred Rupees. Didn’t understand? The One rupee notes are now sold on e-commerce as the Reserve Bank of India is in the lack of One rupee notes. One rupee notes are being sold at Rs. 49 per note on eBay website. The notes printed by the government despite resistance from the RBI, these notes are now increasing the price in the market. As the notes are valuable and having a lot of demands the rate of each note is going on increasing day by day.

In addition to Rs. 49, the website charges Rs. 50 as courier charge and taking the price of a one rupee note to Rs. 99. A pack of 100 one-rupee new notes is available for Rs 1,200. The notes are also available at the wholesale markets for new currency notes. Shockingly, the cost of a one rupee note is Rs. 1.14. An RTI response received by Subhash Chandra Agrawal reveals that the proposal to print one-rupee note was set in motion by the UPA regime in April last year.

eBay is offering one rupee note for Rs. 99

According to the reports, One-rupee notes were discontinued 20 years ago, in 1995-96. The previous central government has decided to print 5 million notes. “As the objective to make one-rupee currency note is to provide legal sanctity, these may not be printed in large numbers. The government may issue five million one-rupee notes every year,” the note from the Ministry of Finance added. The proposal was shut down by the Reserve Bank of India in May 2014.

It claimed that the Central government was not empowered to issue it. After consulting its legal department, the Reserve Bank of India said, “With the repeal of Section 2 of the Currency Ordinance, 1940, in terms of the provisions of Section 27 (1) of the Coinage Act, 2011, the Government of India is not empowered to issue GoI notes of denominational value of one rupee.

One rupee note in eBay

Nevertheless, if the Central government feels it necessary to issue and put into circulation GoI one-rupee notes, the government may consider the feasibility of promulgating a fresh ordinance for the purpose.” Thus objections have risen by the RBI, the Ministry of Finance decided to seek the legal opinion from Department of Legal Affairs, which stated that the powers to issue one-rupee note were vested with the Centre.

According to the records, the RTI response shows that up to June 2015, the Central government printed over 19 million costly one-rupee notes, which are stamped with the signature of current Finance Secretary.

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