Two variants of new Rs 500 note surface, RBI says printing defect due to rush
New Rs 500 note has two variants, RBI says printing flaw due to rush
“It is likely that notes with printing defect has got released due to rush,” RBI spokesperson said
Different variants can create confusion in the minds of the citizens
Experts fear it could also aid counterfeiting — countering which was one of the top aim of demonetization
RBI in its defence said that the printing defect was due to demonetisation rush and that there is nothing to panic.
In what could be a major embarrassment for the government, the Reserve Bank of India (RBI) today admitted that there is a defect in the new Rs 500 notes. The submission from the central bank came after two variants of the new Rs 500 note surfaced and went viral on social media.
“Two notes, totally different design. Is government giving fake currency?”, tweeted Aabshar who goes by the handle, @Scepticindian.
With just two weeks into circulation, the two variants of the Rs 500 note may encourage counterfeits, checking which was one of the main intents behind the government’s move to ban old Rs 500 and Rs 1000 notes.
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