Reserve Bank of India decided to remove the 500 rupee note (2000 Note), which was introduced in 2016.
The Reserve Bank states that 2000 notes may be exchanged at any of its branches from 23 May to 30 September.
The issue of the 2000 rupee notes is a hot topic these days. Nripendra Modi’s former principal secretary, Nripendra Mihsra, said that while the PM never intended to introduce 2000-rupee notes, he did approve them after he learned that they had been in circulation for a long time.
The 2000 note was never considered to be the money of the poor.
They knew there would be more hoarding of 2000 rupee bills than actual transactions.
Update on the 500 Rupee Note. The 500 Rupee Note
The largest note is still the Rs 500.
It is important to distinguish between the real and counterfeit 500-rupee notes.
The Reserve Bank of India claims that the 500-rupee bill has a Mahatma Ghandi picture on its front.
The signature of Reserve Bank of India Governor is also on the 500 rupee notes.
The Shocking Revelation of the Former Principal Secretary to PM Modi on a RS 2000 Note What did it say ? Know what was said?
The former principal secretary revealed that, when he served as the Principal Secretary in the Prime Minister’s Office, the decision was made to replace the 500 rupee note and the 1000-note.
Demonetization is the process of removing old currency notes from circulation.
A time limit has been set for this as well.
He said, furthermore, that 500- and 1,000-rupee notes would be closing at the time and that arrangements needed to be made for their replacement.
Therefore it was essential to bring new 500- and 1000 rupee notes and to arrange new notes under printing.
The Reserve Bank is responsible for printing.
The Reserve Bank had a limited printing capacity, and 2000-rupee notes were issued.
Where four 500-rupee notes were required, they would be completed by one 2000-rupee note.
The Prime Minister, on the other hand was informed about the printing capacity of note companies.
He then said that he did not want to have the notes printed by outsiders.
The only option left to them was printing 2000 rupee bills for a short time. Aware of the situation, Modi gave his approval for 2000 rupee bills.
The Original 500-Rupee Note is a Speciality
- Officially, the size of an original Rs. 500 banknote is 66mm by 150mm.
- In the middle, there will be a photo of Mahatma Ghandi.
- Devanagari is the language used to write 500.
- The words ‘Bharat and India’ are written in tiny letters.
- The Denominational Number will be 500.