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.

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