Government planning to re-introduce Rs 1,000 note. Is this the new look?
Reports suggest that printing of new Rs 1,000 note has already begun and it may be introduced soon.
In Short
- Govt planning to re-introduce Rs 1,000 note in new avatar.
- Printing of new Rs 1,000 already started, say reports.
- PM Modi had banned circulation of Rs 500, 1,000 notes on November 8, 2016.
Barely three months after Prime Minister Narendra Modi's demonetisation move banning the circulation of Rs 1,000 note, the government is planning to bring back note of similar denomination in a new avatar soon. On November 8, 2016, PM Modi had announced withdrawal of old Rs 500 and 1,000 notes from circulation with immediate effect.
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Reports suggest that printing of new Rs 1,000 note has already begun and it may be introduced soon. According to Indian Express , the Reserve Bank of India (RBI) had planned to launch the new note in January but it was delayed as the central bank was pre-occupied with pressing need to supply Rs 500 notes.
A sample of the new Rs 1,000 is being circulated on social media, however, we can not confirm whether the yet-to-be launched note is similar to photos of which have gone viral. The violet coloured note bears of lot of resemblance with the new Rs 2,000 note. Interestingly, images of new Rs 2,000 note were also leaked on social media prior to its launch.
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By the look of it, the new note will have the security features seen in the Rs 2,000 notes. However, with the counterfeiters managing to copy 11 out of the 17 security features of the new Rs 2,000, the RBI certainly needs to do more.
Pakistan-based counterfeiters have copied the geometric patterns and the colour scheme both on obverse and the reverse side including watermark, and the exclusive number pattern of the Rs 2,000 currency.
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In genuine currency, there are 13 features on the front side including two for visually impaired and four on the reverse.
YECHURY SLAMS DEMONETISATION
Meanwhile, CPI(M general secretary Sitaram Yechury has reacted sharply to reports of re-introduction of Rs 1,000 note and slammed PM Modi for his abrupt move to ban circulation of old Rs 500, 1,000 notes.
"Rs 1,000 notes set to be back? So what was this demonetisation about, destroying lives, livelihoods and crashing our Economy?" Yechury said in his tweet with hashtag - Jumlanomics.
Rs 1,000 notes set to be back? So what was this demonetisation about, destroying lives, livelihoods and crashing our Economy? #Jumlanomics pic.twitter.com/1gM25kB4xv Sitaram Yechury (@SitaramYechury) February 21, 2017
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