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As of 2011, the new ₹ sign had been incorporated into banknotes of ₹ 1000. [3] In January 2014, RBI announced that it would be withdrawing from circulation all banknotes printed prior to 2005 by 31 March 2014. The deadline was later extended to 1 January 2015, and then again to 30 June 2016. [4] Denomination of ₹ 1,000 notes cost was ...
The printing of new banknotes started in October when the news stories of forthcoming new banknotes appeared in the media. [29] [30] [31] On 27 October 2016, the Hindi daily Dainik Jagran published a report quoting RBI sources speaking of the forthcoming of ₹2,000 banknotes alongside withdrawal of ₹500 and ₹1,000 banknotes.
The RBI announced on 18 August 2017 that it would soon issue a new ₹ 50 note. [4] RBI announced the specifications of new denomination of ₹200 note in the Mahatma Gandhi New Series, bearing signature of Dr. Urjit R. Patel, Governor of the Reserve Bank of India on 25 August 2017. [5]
The High Denomination Bank Notes (Demonetisation) Act, 1978 was an act of the Indian Parliament that demonetized the high-denomination banknotes of ₹1000, ₹5000, and ₹10000. It was first introduced as the High Denomination Bank Notes (Demonetisation) Ordinance, 1978, by the then President of India Neelam Sanjiva Reddy . [ 3 ]
The following features are included in the notes. [1] Security thread: The notes contain an embedded security thread that can be seen as a vertical straight line when held against a light source. The notes contains the words 'Bharat' in Devanagari and RBI. The ₹1000 denomination contains the number 1000 as well. Older notes, however, are not ...
The RBI is authorised to issue notes with face values of up to ₹ 10,000 and coins up to ₹ 1,000 rupees. New ₹ 500 and ₹ 2,000 notes were issued on 8 November 2016. The old series of ₹ 1,000 and ₹ 500 notes were banned on 8 November 2016, and are no longer in use. Earlier ₹ 1,000 notes have been discarded by the RBI.
The Commission further recommended for the two currency note presses at Dewas and Nashik to be transferred to the control of Bharatiya Reserve Bank Note Mundran Private Limited, setting up of a new security paper mill by the Reserve Bank of India (RBI) and phasing out or privatization of Security Paper Mill, Narmadapuram.
Fake Indian Currency Note (FICN) is a term used by officials and media to refer to counterfeit currency notes circulated in the Indian economy. [1] In 2012, while responding to a question in parliament, the Finance Minister, P. Chidambaram, admitted that there is no confirmed estimate of fake currency in India. [ 2 ]