New Rs 500 Notes With Faulty Printing Valid: RBI

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New Rs 500 Notes With Faulty Printing Valid: RBI

The Reserve Bank of India today said the new 500 rupee notes are valid even with faulty printing.


New Delhi:  They were meant to replace the demonetised currency, but some new 500-rupee notes are causing some confusion -- because of printing errors.

Apparently, in a rush to go to print, an unspecified number -- no one knows exactly how many -- of notes of Rs 500 denomination have visible errors.

They have caused doubts in the minds of the people whether these currency notes are genuine or fakes.

The most starking is the way the guarantee declaration has shifted to almost superimpose on the security thread in some notes (see photo), while in others there is a visible shadow of Mahatma Gandhi's face. The position of the Ashoka Pillar lion is also in wrong place while some of the numbers on the note jut out.

However, the RBI has said these are valid and can be used. If people find it difficult to transact in these notes, they have been advised to exchange them.

The government had on November 8 announced the demonetisation of Rs 500 and Rs 1,000 currency notes with the aim of curbing black money and corruption.


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