Narendra Modi announced that Rs 500 and Rs 1000 banknotes would be withdrawn from the financial system at 8th Nov, saying it was part of a crackdown on rampant corruption.
The surprise step appears to be designed to bring billions of dollars worth of cash in unaccounted wealth into the mainstream economy.
Here is what you need to know about the new Rs 500 and Rs 2,000 note.
The Reserve Bank of India is introducing new design banknotes in the denomination of Rs 2000 as part of Mahatma Gandhi (New) Series. The new denomination has motif of the Mangalyaan on the reverse, depicting the country’s first venture in interplanetary space. The base colour of the note is magenta. The note has other designs, geometric patterns aligning with the overall colour scheme, both on the obverse and the reverse. The size of the new note is 66mm x 166mm
Features of the New Rs 2000 Note
1. See through register with denominational numeral 2000 can be seen when the note is held against light
2. Latent image with denominational numeral 2000 which can be seen when the banknote is held at 45 degree angle at the eye level
3. Denominational numeral 2000 in Devanagari
4. Portrait of Mahatma Gandhi in the centre
5. Micro letters ‘RBI’ and ‘2000’
6. Colour shift windowed security thread with inscriptions ‘Bharat’, RBI and 2000. Colour of the thread changes from green to blue when the note is tilted
7. Guarantee Clause, Governor’s signature with Promise Clause and RBI emblem towards right
8. Mahatma Gandhi portrait and electrotype (2000) watermarks
9. Number panel with numerals growing from small to big on the top left side and bottom right side
10. Ashoka Pillar emblem on the right
For visually impaired
11. Raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, based and identification mark
12. Horizontal rectangle with Rs 2000 in raised print on the right
13. Seven angular bleed lines on left and right side in raised print
14. Year of printing on the note
15. Swachh Bharat logo with slogan
16. Language panel towards the centre
17. Motif of Mangalyan – reflecting country’s first venture in the interplanetary space
Features of the new Rs 500 notes:
The new Rs 500 notes are different from the present series in colour, size, theme, location of security features and design elements. The size of the new note is 63mm x 150mm. The colour of the notes is stone grey and the predominant new theme is Indian heritage site – Red Fort.
1. See through register in denominational numeral.
2. Latent image of the denomination numeral.
3. Denomination numeral in Devanagari.
4. Orientation and relative position of Mahatma Gandhi portrait changed.
5. Windowed security thread changes colour from green to blue when note is tilted.
6. Guarantee clause, Governor’s signature with promise clause and RBI emblem tilted towards right.
7. Portrait and electrotype watermarks.
8. Number panel with numerals growing from small to big on the top left side and bottom right side.
9.Denomination in numerals with rupee symbol in colour changing ink (green to blue) on bottom right.
10. Ashoka pillar emblem on the right.
For visually impaired:
Raised printing of Mahatma Gandhi portrait, Ashoka pillar emblem, based and identification mark.
11. Circle with Rs 500 in raise print on the right.
12. Five bleed lines on left and right in raised print.
13. Year of printing of the note on left.
14. Swachh Bharat logo with slogan.
15. Language panel towards centre.
16. Red Fort- an image of Indian heritage site with Indian flag.
17. Denomination numeral in Devanagari on right.