Defects In New Rs 500 Note, RBI Blames Rush For It

न्यूज़ वर्ल्ड इंडिया | 0
| November 25 , 2016 , 15:52 IST
[caption id="attachment_236872" align="aligncenter" width="700"]Representational Image Representational Image[/caption] According to reports the new currency notes of Rs 500 issued by the banks are surprisingly have identical differences in colour and design from each other. At least three such cases of defect in new Rs 500 currency notes was reported by Times of India on Friday (November 25). Reports claim that such defects in legal tender may make it easier to make counterfeit currency notes. The Reserve Bank of India, for its part, told TOI that the defect could be due to “rush” in printing and that people could use these notes or return them to RBI. In one case, a resident of Delhi told the newspaper that the note had visible shadows of every object, including the image of Gandhi and the national emblem. Some of the items on the note were also placed differently. Commenting on the discrepancies, RBI spokesperson Alpana Killawala told TOI, “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.” Former Home Secretary GK Pillai also spoke to TOI, saying that counterfeiting is easier in Nepal, Bangladesh and Pakistan since they now have “sophisticated” mechanism. Experts said such discrepancies will increase the chances of counterfeit notes, pointing out the urgent need to check notes thoroughly before accepting them. Ahead of government's immediate announcement to stop exchange of notes all over-the-country. This morning, it said the exchange of notes can be done only at RBI counters.