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Two variants of new Rs 500 note surface, RBI says printing defect due to rush

Two variants of new Rs 500 note surface, RBI says printing defect due to rush


Mangalore Today News Network

Bangaluru, Nov 25, 2016: Just two weeks into circulation, there are already different variants of the new Reserve Bank of India (RBI) Rs 500 notes+ , which experts fear could not only create confusion in the minds of the citizens but also aid counterfeiting — countering which was one of the top objectives of Centre’s demonetization move and introduction of new notes.


500 note


500 note


TOI found at least three case studies where the new notes have been found to vary from one another. In case of one note Abshar (he goes by one name), a resident of Delhi, says: "There is a more than visible shadow of Gandhi’s face, besides alignment issues with the national emblem on the note and even serial numbers."

Rehan Shah, a resident of Gurugram pointed out that the size of the borders of the notes were different. In case of two notes a Mumbai resident got when he made change for Rs 2,000 the notes were of different colours, with one being of a lighter shade. While he shared the picture with TOI, he refused to go on record.

RBI spokesperson Alpana Killawala, said: "It is likely that notes with printing defect has got released due to the current rush. However, people can freely accept such a note in transaction or return it to RBI."

Former Home Secretary GK Pillai told TOI: "Prevention of counterfeiting is almost impossible, with official mechanisms in Pakistan printing notes with access to as much sophistication as we do. So, it is only a matter of delay and temporary suspension of such notes in the country that one could have hoped for. I cannot yet comment on the Rs 500 notes as I am yet to see them, the Rs 2,000 notes are of good sophistication. That said, if the RBI says there is only one new 500-note it is printing, there should exist only one."


Courtesy:Times Of India


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Comments on this Article
Zever, Kasrgod Fri, November-25-2016, 3:55
Careless move .....
Adnan Ali, Ssurat Fri, November-25-2016, 3:44
Implemented the plan but not able to execute it well............... BJP
Sandhya Shanker, Maniula Fri, November-25-2016, 3:42
First when Modi announced about demonetization I felt very prond of him. But later seeing the people suffering for money standing in bank ques and dying felt there is something wrong in what he has done. Now a new issue , Why are you peopel giving way to others to interfere and point on you unnecessarily.
Manish Patel, Ahmedabad Fri, November-25-2016, 3:38
There were issues regarding 2000 rs and now its 500 Rs new note. POLITICS . But you are creating for yourself .
Gangadhar naik, Mumbai Fri, November-25-2016, 3:36
Some who are not satisfied with demonetization are trying to create problems by finding some or the other issues. To take such major decision proper planning and execution was important .This proves the carelessness on everybody’s part individually
Ramesh K, Bengaluru Fri, November-25-2016, 3:28
Confusion in a hurry but RBI cannot be negligent
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