There had been news of issues in the printing of the newly announced 500 and 2000 Indian Currency Notes which is now accepted by the Indian Government as a printing mistake due to the rush of currency flow at present. People can still use those currency notes or exchange them with Reserve Bank Of India to get new ones.

In-Depth Analysis

There had been many issues floating in the present scenario about the newly issued currency notes and I’m not talking about the issues that are coming from the people that are not getting them but these issues are coming from those people that are having the newly issues currency notes. To recall, on 8th November 2016 Prime minister of India, Mr. Narendra Modi took a daring step towards curbing the black money up to an extent by demonetizing the old currency notes of 500 and 2000 rupees. Taking these notes out of the system meant putting a hold over 86 percent of the nation’s monetary economic flow. Due to this pressure some errors seem to make their way into the newly issues 500 and 2000 Indian currency notes which are worrying the public. The best part of this news is that the government has accepted this that there are errors present in the latest currency notes in the form of alignment of the national emblem and serial numbers. Both of the things can cause a serious threat to the “real” currency of the nation but Government tells people that they can still continue to use the notes or can get them changed from the Reserve Bank of India as per their comfort.

New 500 rupee note

The main problem here is that, watching the “error” issue, the fake currency makers can try to mint this opportunity and release fake notes with obvious “errors” because people won’t be able to tell the real difference between the real and the fake ones due to the errors present in them by default.

 

The issues is a strong issue and need to be fixed as soon as possible otherwise this move to curb the black money inflow by the Indian Government would end up as somewhat useless.

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