RBI’s Banknote Survey: Rs 100 is the most preferred banknote

The Reserve Bank of India’s Banknote Survey of Consumers’ findings revealed that, among banknotes, Rs100 was the most preferred while Rs 2,000 was the least preferred denomination. The survey, that was published in the Reserve Bank of India Annual Report this year said that Rs 100 notes were most preferred among Indians, while Rs 2000 notes were the least preferred. The RBI survey also found out that the total number of Rs 2000 notes comprised only 214 crores or 1.6 per cent of the total currency notes in circulation.

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RBI Survey of Consumers on Bank Notes:

A diverse sample of 11,000 respondents from rural, semi-urban, urban and metropolitan areas, spanning 28 states and three union territories participated in the survey. The survey also included 351 visually impaired respondents (VIR). The survey covered respondents from the age of 18 to 79 years with a gender representation of 60:40 for males and females.

Here is what the survey findings revealed:

• The survey findings revealed that, among banknotes, Rs 100 was the most preferred while `Rs 2000 was the least preferred denomination.
• Among coins, the denomination of Rs 5 was the most preferred whereas Re 1 was the least preferred.
• The watermark of Mahatma Gandhi’s image followed by the windowed security thread were the most recognised security feature.
• Around 3 per cent of the respondents were not aware of any banknote security feature.
• Overall, approximately seven out of 10 respondents were found to be satisfied with the new series of banknotes.
• Among the visually impaired, the majority were found to be aware of the quality of paper and the size of the banknotes.

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