New faulty printed notes of Rs 500 valid: RBI

Photo of new Indian currency note of Rs 500 with few faulty printings.

New Delhi: With the aim to curb black money and corruption the government launched new currency notes of Rs 500 after demonetised of old currency notes of Rs 500, but some new 500-rupee notes are causing some confusion because of printing errors.

Apparently, in a rush to go to print, an unspecified number-no one knows exactly how many-of notes of Rs 500 denomination have visible errors.

They have caused doubts in the minds of the people whether these currency notes are genuine or fakes.

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The most starching is the way the guarantee declaration has shifted to almost superimpose on the security thread in some notes (see photo), while in others there is a visible shadow of Mahatma Gandhi’s face.

The position of the Ashoka Pillar lion is also in wrong place while some of the numbers on the note jut out.

The RBI however said these are valid and can be used. If people find it difficult to transact in these notes, they have been advised to exchange them.

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With the aim of curbing black money and corruption, on November 8th, the government had announced the demonetisation of Rs 500 and Rs 1,000 currency notes.