The Reserve Bank (RBI) issues currency in denominations ranging from one rupee to two thousand rupees. But how would you react if we told you that the nation also has zero rupee notes? Many of you may be curious about zero rupee notes. We are aware of currency notes with denominations ranging from 1 to 2000 and those we use daily. But most of us are not familiar with the zero note. You’ll be shocked to learn that India has been using zero rupee notes for over a decade now.
The zero rupee note was issued in 2007 to fight corruption and is not a conventional Indian note backed by the RBI. Instead, it was issued by a Chennai-based NGO named 5th Pillar.
Does The RBI Print Zero Rupee Notes?
The printing of the notes is known to be handled by the RBI but not that of the zero-rupee notes. These can be distinguished and have a specific objective. It was released by the 5th Pillar NGO, a group with a base in Chennai.
The Use Of Zero Rupee Notes
From a financial perspective, this note has no value, making it practically impossible to buy anything. But the nation has previously issued zero-rupee notes. The purpose of the note was to fight organized political corruption and bribery. It is made to resemble the typical Indian 50-rupee banknote. The goal of these notes is to deter any kind of bribery. Hence, they include contact information for the appropriate government agencies.
As a result, citizens are advised to use zero-rupee notes to bribe public officials. “Eliminate corruption at all levels” and “I promise to neither accept nor give a bribe” are among the anti-corruption catchphrases on the note.
Also Read: Why Every Currency Is Compared To US Dollar?
Who Prints The Zero Rupee Notes?
This idea was put up in 2007 by the non-governmental organization Fifth Pillar in an effort to fight corruption. Millions of notes in Hindi, Telugu, Kannada, and Malayalam have been printed and put on the market by the NGO. The main goal was to demonstrate a lesson to the corrupt individuals who demanded bribes.
The Person Behind Fifth Pillar
An NRI software developer named Vijay Anand co-founded the Fifth Pillar to battle corruption. His group is advocating nonviolent resistance to unfair ways of making quick money. We can’t dispute that corruption exists in our nation in various ways, especially regarding demanding bribes. Therefore, wouldn’t it be nice to have a note specifically written to tease the corrupt officials? Giving these people a note with no value is the ideal response to their financial needs.
In 2006, when Vijay returned to India, he had an initial concept that would raise the standard of living for Indians. He decided to launch this business as he intended to add a fifth pillar to the Four Pillars of Democracy. The current four pillars are the legislative, the judiciary, the executive, and the press. We need more people with bold visions to eradicate corruption from our nation.
Learn More About Fifth Pillar’s Unique Concept
The 5th Pillar launched the program in 2007, distributing 25,000 notes in Chennai, India. As a result of the campaign’s success, more zero-rupee notes were printed and circulated around the country. The 5th Pillar has successfully delivered approximately 2.5 million zero-rupee notes as of 2014. The notes are still in circulation, and thousands of them are distributed each month. Millions of these notes in five languages—Tamil, Hindi, Kannada, Telugu, and Malayalam—were subsequently printed by this NGO.
They instructed the volunteers to distribute these notes in public locations, including bus stops, train stations, and markets. On the note, there is also a bold message that reads, “If someone demands a bribe, give them this note and report the incident.” To avoid breaking any laws against counterfeiting, only one side of the note is printed to make it seem like currency.
In conclusion, corruption is a major social ill. We need to immediately rid society of this evil. It is a poison that has entered many people’s minds these days. Hopefully, we can eradicate corruption via persistent political and societal initiatives. It is essential that we all unite together to oppose such social evils.