500 Rupees Note

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Two Types Of New Rs 500 Notes Surface In The Market, RBI Says Printing Defect Due To Rush

The Logical Indian

November 25th, 2016

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Source: The Times of India

Rs 500, India’s brand new currency note already is making the headlines. Two variants of the new notes surfaced as per reports. The two different versions of the new notes seem to be a major embarrassment for the government. The Reserve Bank of India admitted that minor defects or differences that people are finding between the notes are because of the faults in printing.

This has created confusion amongst people who are already perplexed and finding it difficult to understand all the features of an official note.

The Times of India reported three cases where the new Rs 500 notes have varied from each other.

A Delhi resident said, “There is an alignment issue in the national emblem on the note, and the shadow of Gandhi’s face is more visible.” Another Resident Rehan Shah from Gurugram said that the outline of the borders of the notes was different while a Mumbai resident pointed out that the new Rs 2000 note were of different shades.

“The notes with printing defects got released due to a cash crunch. It can happen once in a million. However, people without any apprehension can use those notes in transactions, and if they don’t want to use it they can return it to RBI,” says Alpana Killawala, RBI spokesperson.

The Experts stressed on the fact that the multiple variants of the official notes aid in counterfeiting practices.

The exchange of the devalued Rs 500 and Rs 1000 notes will continue to be available at the counters of the central bank up to the limits prescribed per person. Such exchange facility is now no longer available at other bank counters.

For more information, read here

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