RBI agrees with Modi govt ending old currency notes, here are the key highlights

All you need to know about the new Rs 500, Rs 2000 notes!

Following Prime Minister Narendra Modi’s big announcements regarding the introduction of new Rs 500 and Rs 2000 notes, RBI Governor Urjit Patel on Tuesday evening further shed light on the issue of black money and corruption highlighted by the Prime Minister.

While making the announcement the RBI governor said that the Reserve Bank of India has been concerned about the menace of fake Indian currency notes and that the central bank would provide the new currency notes as soon as possible.

“RBI will release new currency notes with new features,designs and dimensions from 10 November onwards,” Economic Affairs secretary Shaktikanta Das said.

Here are key highlights:

1. Fake Indian currency notes are similar to genuine.

2. The new series of notes will be known as Mahatma Gandhi new series of bank notes.

3. The new currency notes will be released on November 10, 2016.

4.If someone is receiving Rs 1000 & Rs 500 notes after tonight, he is doing it at his own risk.

5. The situation will be reviewed after November 24, 2016.

6. RBI helpline numbers are: – Mumbai 022- 22602201; Delhi 011-23093230