If half printed notes of Rs 500 and Rs 2,000 didn’t cause enough embarrassment to Prime Minister Narendra Modi, there are now complaints of new Rs 500 notes being of different variants.
Not only will the new revelation (see the photo below) cause considerable confusion among already desperate population, but may also give boost to fake currency market.
One of the reasons cited by Modi behind doing away with old Rs 500 notes was to abolish counterfeiting with new ‘high-security’ currency notes.
RBI spokesperson Alpana Killawala, told Economic Times “It is likely that notes with printing defect has got released due to the current rush. However, people can freely accept such a note in transaction or return it to RBI.”
Not too long ago, Janta Ka Reporter had reported how new Rs 500 and Rs 2,000 notes were only half printed and crucials details such the serial numbers were missing.
The central government has made several controversial decisions with regards to withdrawal of money and exchange of old currency at banks across the country since the announcement of demonetisation on 8 November. This, according to analysts, was because the haste in which the government made demonetisation announcement, thereby lacking any considerable planning on implementation.
On Friday last week, the government made yet another contradictory announcement on demonetisation by closing the bank for operations on Sunday while allowing only senior citizens to banks on Saturday (today).
Narendra Modi government has permanently stopped the provision of exchanging old notes.
The government last week had announced so-called concessions for those, who had weddings planned, by allowing them to withdraw up to Rs 2.5 lakh, but families have complained of banks not adhering to the new directive.