Here’s all you need to know about the new Rs.500 and Rs.2000 notes.
In a drastic step aimed at reducing black money, the Indian Government has decided to ban all currency notes bearing the denomination of ₹500 and ₹1000. It is a great step towards restraining corruption and financial terrorism in the longer run. The move is so unexpected that people have no time to remove or use off their black money and now it would become simply a waste of paper for them.
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In a statement released today, Urjit Patel, the RBI Governor announced that the new notes would be in circulation from Thursday, November 10. Finance Secretary, Mr. Ashok Lavasa posted on twitter to clear the doubts on the matter, which has baffled the entire nation.
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According to Economic Affairs Secretary Shaktikant Das, the new series of ₹500 notes are named ‘Mahatma Gandhi series of bank notes’, carrying a picture of Delhi’s ‘Red Fort’ at the back.
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The new size of the note is 66mm x150mm and the new colour of the note is stone grey.
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Other features include intaglio printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, 5 bleed lines, circle with ₹ 500 in the right, and Swachh Bharat Logo printed on the reverse of the bank note.
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The ₹2000 rupee note will have an image of the ‘Mangalyaan’, denoting India’s Mars orbital mission.
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The new size of the note is 66 mm × 166 mm and the new colour is magenta.
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Other features include security thread with inscriptions ‘भारत’, RBI and 2000 on banknotes with colour shift, 7 bleed lines and Intaglio printing of Mahatma Gandhi portrait
I can’t imagine a better move than this to eliminate black money from the country. Although, this transition may be a little difficult for the public at the moment, but it is a firm and positive step taken by PM Narendra Modi and will certainly help the nation in the longer run. Furthermore, 2 days of inconvenience are worth the convenience of future generations.
“Acche din” are indeed here!
