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New Rs. 500 notes to relieve people

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Bhubaneswar: With people facing dire cash shortage of smaller bills resulting in hue and cry across the state, newly launched currency notes of Rs. 500 reached the state on Wednesday giving respite.

RBI Regional GM Sarada Prasanna Mohanty confirmed that the new notes will be sent to various banks chest by Thursday afternoon.

Mohanty said some rumours like duplicate Rs. 10 coin is basless urging retailers to accept the coins. There is no such notification from the RBI regarding the issue, he added.

He also enumerated some features for identification of original bills notably

  • The new Rs. 500 notes bear signature of Reserve Bank of India Governor Urjit Patel.
  • The note is stone grey coloured and bears printing ‘2016’ and Swachh Bharat Logo on the reverse.
  • It is different from the previous version in terms of colour, size, theme, location of security features and design elements.
  • It also has Red Fort image with Indian flag printed on the reverse of it.
  • The note has intaglio printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, bleed lines, circle with 500 in the right and the identification mark for visually impaired persons.

Notably after the government decided to demonitise bills of denomination Rs. 500 and Rs. 1000 a week back, the Reserve Bank of India (RBI) issued the new high-security Rs 500 notes on Sunday evening to ease pressure on banks’ cash position and improve liquidity in the market.

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