Features of the New Currency Notes
After demonetization, RBI introduced ₹2000 and ₹500 notes under the new Mahatma Gandhi series with advanced security features. These notes differ from the old high-denomination ones, though some misinformation also circulated on social media following the devaluation of old ₹500 and ₹1000 notes.
Note: The ₹2,000 note was subsequently withdrawn from circulation by the RBI in May 2023.
For example, there were rumors on social media about chips being embedded into the new currency notes, which was later dispelled by RBI in an official statement. This article intends to highlight the prime features of the newfangled currency which would solve some of the common queries of the public. Here's everything you need to know about the freshly minted Rs.500 and Rs.2000 notes.
Features of Rs.2000 notes:
Front face
- Holding the note in a latent position one can see two thousand printed in 4 places with different coloured ink and typesetting
- Picture of Mahatma Gandhi on the front side
- A see through register on the left side with the numeral 2000
- Security thread passing straight up with the letterings RBI, Bharat, and 2000
- Promise clause attested by the RBI governor along with the RBI emblem
- Watermarks of Mahatma Gandhi's image and the numeral 2000 on the right side
- Number panel on the bottom right and top left with font size of digits increasing from one after another
Reverse face
- The Rs.2000 note bears an image of Mangalyaan on the reverse side, which represents India's venture into the Mars orbit.
- Year of printing
- Language panel
- Swachh Bharat logo on the bottom left along with the slogan in Hindi
Note: ₹2000 banknotes are no longer in active circulation and are being phased out as per RBI guidelines.
Features of Rs.500 notes:
Front face
- The new Rs.500 note comes in a stone grey colour and is of the size 66mm x 150mm
- Intaglio print of Mahatma Gandhi's image
- 5 bleed lines on both the sides
- See through register in the bottom left
- Security thread that changes colour from blue to green when held in different positions
- Promise clause signed by the RBI governor along with the RBI emblem
- Electrotype watermarks
- Number panel on the bottom right and top left with font size of digits increasing from one after another
Rear face
- The rear side of the note has an image of the Red Fort along with Indian flag
- Year of printing
- Language panel
- Swachh Bharat logo and slogan
The features for visually impaired include a raised print of Rs.500 on the right and five bleed lines.
Languages on the new currency notes:
Each of the new currency notes has denominations written in 17 languages. On the front side, it is written in Hindi on the top while on the reverse it's written in English. The other 15 regional languages are printed in the language panel on the reverse side of the currency note. The language panel has denominations printed in the following languages from top to bottom: Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Oriya, Punjabi, Sanskrit, Tamil, Telugu, and Urdu.
FAQs on Features of the New Currency Notes
- Who issues new currency notes in India?
The Reserve Bank of India (RBI), the nation's central bank, is mandated by the Reserve Bank of India Act of 1934 to issue fresh banknotes and coins. In collaboration with the Union Government, the RBI's Central Board develops the form, design, and material of the new Indian currency notes.
- How many languages can be seen on an Indian currency note's language panel?
Besides Hindi, which is prominently displayed in the note's centre and English on the reverse, there are 15 other languages listed in the language panel.
- When were new currency notes issued by the RBI?
The government announced demonetisation to reduce the threat of counterfeit currency notes and to encourage people to switch to digital transactions. The new Indian currency notes in the Mahatma Gandhi (New) series were implemented by the RBI in November 2016. The RBI first introduced new banknotes with denominations of 500 and 2,000 before introducing additional new currency notes.
- Are any assets, such as gold, used to back the banknotes?
According to Section 33 of the RBI Act, 1934, all banknotes issued by the RBI are backed by assets like gold, government securities, and foreign currency assets.
- What happens to the old design banknotes after introduction of a new design?
The new as well as old design notes are usually circulated together for some time. When the old design notes can no longer be issued, they are gradually taken out of circulation.
- What are the key features of the new Rs.500 banknote in India?
The new Rs.500 banknote was one of the first new currency notes issued by the Reserve Bank of India following the demonetisation in November 2016. This note is 150mm x 66mm in size and is stone grey in colour. The back features the 'Red Fort' motif and the RBI Governor's signature.
- What denominations of currency are currently in use in India?
India currently issues banknotes in the following denominations: Rs.10, Rs.20, Rs.50, Rs.100, Rs.200 and Rs.500.
Note: The Rs.2,000 note was withdrawn from circulation by the RBI in May 2023.
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