No proposal to replace face of Mahatma Gandhi on banknotes: RBI

Dismissing reports, the Reserve Bank on Monday said there is no proposal to replace the face of Mahatma Gandhi with that of others on currency notes.

In a statement, the central bank said 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," it said.

There are certain reports suggesting the finance ministry and the RBI were contemplating to use the faces of other prominent Indians, including Rabindranath Tagore and APJ Abdul Kalam, on banknotes of certain denominations.