RBI Confirmed That New Rs 500 Note Has Printing Defect!!

Where many false news of printing defects in new notes are circulating on social media, RBI finally spoke about the printing error in new Rs 500 note.

Since 9 November, the new high denomination notes of ₹2000 and ₹500 are floating in the market and just after two weeks of circulation two different versions of Rs 500 notes are present in the market.

The different versions of Rs 500 note are already creating confusion in the market, where so many people think that one of them is fake and it is countering the reason of demonetization.

It turned out that people are saying that the new Rs 500 notes have alignment issues, with the shadow of Gandhi’s face, National Emblem and Serial Numbers. Some also reported that the notes differ in size and colour also.

However, to clear the fog about the notes, the spokesperson of RBI Alpana Killawala stated that the notes only have printing defects but are not fake.

She 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 the transaction or return it to RBI“.

The former Home Secretary G.K Pillai denied commenting on the issue stating that he has not seen the defected notes yet.

He said, “Prevention of counterfeiting is almost impossible, with the official mechanism in Pakistan printing notes with access to as much sophistication as we do“.

We suggest you to not to panic if a new note of Rs 500 seems odd to you, exchange it in RBI or inform the concerned authorities.

But the big question is, if someone did manage to circulate the fake new Rs 500 notes with exact same printing mistake. Will RBI take responsibility to change or exchange them too?

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25 November 2016
Avni S. Singh