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Like the other Indian rupee banknotes, the ₹ 1000 banknote had its value written in 17 languages. On the obverse, the denomination was written in English and Hindi. On the reverse is a language panel which displayed the denomination of the note in 15 of the 22 official languages of India, displayed in alphabetical order
According to a 2018 report from the Reserve Bank of India ₹15.3 lakh crore (15.3 trillion rupees on the short scale) of the ₹15.41 lakh crore in demonetised bank notes, or approximately 99.3%, were deposited in banks, leading analysts to state that the effort had failed to remove black money from the economy.
While the exchanging of notes was initially allowed only until 9th February, 1946, it was extended multiple times. [2]: 5 By the end of 1947, out of a total of Rs. 143.97 crore of high denomination banknotes, notes of the value of Rs. 134.90 crore were exchanged and notes worth Rs. 9.07 crore went out of circulation or were not exchanged.
Early in November, India abolished the 500 and 1000 rupee banknotes in an effort to fight corruption and so-called "black money". Since then, interest in Bitcoin appears to be increasing in the ...
The high-value note will remain a legal tender, the country’s central bank has said India announces surprise withdrawal of highest-value banknotes Skip to main content
Nepali Prime Minister K.P. Sharma Oli will press India to exchange millions of dollars held in Nepal in banned high-value Indian bank notes during a visit this week to improve ties with its large ...
On 8 November 2016, Indian Prime Minister Narendra Modi announced that the hitherto existing 500 and 1000 rupee notes cease to be legal tender. He said that the move is taken to curb black money and widespread counterfeit currency in the country. He introduced new ₹500 and ₹2000 notes, and discontinued the existing ₹1000 note.
Printing of five-notes, which had stopped earlier, restarted in 2009. On 8 November 2016, the ₹500 and ₹1000 banknote denominations of this series were demonetised and the new Mahatma Gandhi Series of banknotes were revealed in denominations of ₹500 and ₹2000, intended to replace this series.