It’s been only two weeks since demonetisation of the higher denominations of Rs.500 and Rs.1000. The government has taken lots of steps to avoid counterfeiting and created many security features for the newly released notes. But while in hurry to send out new notes on such short notice, the RBI seems to have misprinted and now there are two different Rs. 500 notes in the market. This case came to notice when an individual named Aabshar took to twitter as a platform to express his woes on 21st November 2016
Two notes, totally different design. Is government giving fake currency? 😓 pic.twitter.com/xz32A6Mv5w
— Aabshar (@Scepticindian) 21 November 2016
The whole point of demonetisation was to curb black money circulation and counterfeit notes. This mistake by the RBI might make it easier for people to create fake notes. RBI spokesperson Alpana Killawala, said: “It is likely that notes with printing defect have got released due to the current rush. However, people can freely accept such a note in a transaction or return it to RBI.” In defense of the RBI, the spokesperson also added, “It’s not a variant. Such a printing deficiency can happen once in a million. It is a valid legal tender and can be freely used in transactions. But if someone does not want to use it and return it to RBI, that too can be done and we will give them full value.”
While there seems to be a mistake and also promise of exchange of full value, the exchange of old notes in the bank will be continuing. But the over the counter exchange of the old and now illegal tender notes of Rs.500 and Rs.1000 will come to an end at midnight on 24-11-2016. These can still be deposited in the bank accounts of all banks.
