New notes 500 2000 rupees: The already existing notes of 500 and 1000 denominations have been scrapped by the Modi government overnight and it announced the plans to introduce new notes of 500 and 2000 denominations. Economic Affairs Secretary Shaktikanta Das told that the new notes will be released from November 10 onwards.
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New notes 500 2000 rupees
As said by PM Modi, the scrapped notes will become mere paper. The time period provided for submitting the scrapped notes will be November 10 to December 30. The scrapped notes will soon be replaced by the new notes.
New notes of Rs 500 have been made on the theme of the Indian heritage – Red Fort. Every note will have a nano GPS chip embedded in it. Rs 1000 note is made on the theme of Mangalyan – the first interplanetary space venture of India.
Rs 500 notes will be greenish grey in colour while Rs 2000 notes will be dark mauve in colour. The new notes will have the picture of Mahatma Gandhi.
The other currency of denomination 1, 2, 5, 10, 20, 50, 100 stands unaffected by the move.
This strong move by PM is ought to bring about some huge repercussions on the Indian economy. The reaction of the masses is mixed, while some see the good in it, others are strongly criticising the move.
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