الخميس، 24 نوفمبر 2016

India admits defect in newly issued Rs 500 notes, creates more confusion among citizens

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In what is yet another sign of India's unpreparedness in the aftermath of invalidating its most circulated cash, two variants of new currency notes have surfaced in the market, creating confusion among citizens. 

Days after people began reporting discrepancies in the newly issued Rs 500 note, the Reserve Bank of India has admitted of some printing errors. These errors are not only creating confusion among people, but also pose counterfeiting risks. 

"It is likely that notes with printing defect have gotten released due to the current rush," RBI spokesperson Alpana Killawala told TOI, adding that one could still use the note in transactions, or return it to RBI. According to the report, these notes differ in alignment of the national emblem and serial numbers.  Read more...

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