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During the demonetisation, police and tax officials across India seized ₹6.1 billion in unaccounted money, including ₹1.1 billion in new banknotes. [117] Reports in the media noted that although the general public faced a severe cash shortage, some individuals were able to amass tens of millions of rupees in new banknotes; they thus ...
The High Denomination Bank Notes (Demonetisation) Act, 1978 was an act of the Indian Parliament that demonetized the high-denomination banknotes of ₹1000, ₹5000, and ₹10000. It was first introduced as the High Denomination Bank Notes (Demonetisation) Ordinance, 1978, by the then President of India Neelam Sanjiva Reddy . [ 3 ]
The Mahatma Gandhi New Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of the Indian rupee (₹), intended to replace the Mahatma Gandhi Series of banknotes. Announced on 8 November 2016, it followed the demonetisation of ₹ 500 and ₹ 1000 banknotes of the original Mahatma Gandhi
The high-value note will remain a legal tender, the country’s central bank has said
Obverse of the ₹ 2000 banknote between October 2016 – November 2023. It was released by the Reserve Bank of India (RBI) on 8 November 2016 after the demonetisation of ₹500 and ₹1000 banknotes and has been in circulation since 10 November 2016. [2] It is a part of the Mahatma Gandhi New Series of banknotes with a completely new design.
Like the other Indian rupee banknotes, the ₹ 1000 banknote had its value written in 17 languages. On the obverse, the denomination was written in English and Hindi . On the reverse is a language panel which displayed the denomination of the note in 15 of the 22 official languages of India , displayed in alphabetical order.
On 8 November 2016, the Government of India announced the demonetisation of all ₹ 500 and ₹ 1,000 banknotes of the Mahatma Gandhi Series despite being warned by the Reserve Bank of India (RBI). [ 84 ] [ 85 ] The government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to ...
2016 Indian banknote demonetisation; B. Bharatiya Reserve Bank Note Mudran; F. Fake Indian currency note; I. Indian 1-rupee note; Indian 2-rupee note; Indian 5-rupee ...