RBI Announces Update on 500 Rupee Note Following Discontinuation of 2000 Rupee Note

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In a significant development by the Reserve Bank of India (RBI), a major update has been introduced for the 500 rupee note, making it imperative for every citizen to be aware of these changes.

2000 note update

After the RBI’s decision to discontinue the 2000 rupee note, a recent announcement has been made regarding the withdrawal of existing 2000 rupee notes. Individuals are now required to deposit their existing 2000 rupee notes at banks, with the deadline set for September 30, 2023. As a result, the 500 rupee note will become the largest denomination in circulation in the country. Considering the widespread circulation of the 500 rupee note, it is crucial for people to be able to distinguish between genuine and counterfeit notes.

The Reserve Bank of India has provided specific details about the genuine 500 rupee note. It is essential for the general public to understand these characteristics to easily identify counterfeit notes. Here are the distinguishing features of the genuine 500 rupee note:

  1. Official dimensions: The authentic 500 rupee note has an official dimension of 66 mm x 150 mm.
  2. Portrait of Mahatma Gandhi: The note features the portrait of Mahatma Gandhi in the center.
  3. Denomination in Devanagari script: The value “500” is written in Devanagari script.
  4. Microletters: The words “Bharat” and “India” are microprinted on the note.
  5. Watermark: The watermark of Mahatma Gandhi’s portrait and electrotype (500) is present.
  6. Guarantee and promise clauses: The note contains the governor’s signature, along with a guarantee clause and a promise clause, located on the right-hand side of Mahatma Gandhi’s portrait.
  7. Ashoka Pillar emblem: The emblem of the Ashoka Pillar is positioned on the right side.

In addition to these features, the front side of the note has a hidden image of the number “500” visible under ultraviolet light. The security thread on the note changes color from green to blue when tilted. Furthermore, the year of printing is located on the left side of the back of the note along with the slogan “Swachh Bharat” (Clean India), a language panel, an image of the Red Fort (Lal Qila), and the denomination in Devanagari script.

The RBI emphasizes that if any of these characteristics are missing in a 500 rupee note, it is likely to be counterfeit. Citizens are encouraged to familiarize themselves with these features to effectively differentiate between genuine and counterfeit notes.

With the discontinuation of the 2000 rupee note and the circulation of the updated 500 rupee note, it is essential for individuals to stay informed and adapt to the changes in the currency system. The RBI aims to maintain the integrity of the Indian currency and ensure a secure financial ecosystem for all citizens.

For more information and assistance, individuals are advised to reach out to their respective banks or visit the official Reserve Bank of India website.

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