Senior government authorities and Reserve Bank of India boss Urijit Patel today uncovered what the new Rs. 500 and 2000 notes will resemble, declaring that these will be propelled on Thursday, November 10.
They were tending to a public interview to points of interest next strides after Prime Minister Narendra Modi reported in a deliver to the country that Rs. 500 and Rs. 1,000 group notes are being pulled back from midnight. He said that such notes will get to be “negligible paper”.
PM Modi said this was being done to tackle the menace of black money in the country, which has sapped the economy.
The new series of Rs. 500 notes, said economic affairs secretary Shaktikanta Das, will be called the Mahatama Gandhi series of bank notes and they also carry a picture of Delhi’s Red Fort.
The 2000 rupee note that is being introduced carries an image of the Mangalyaan to celebrate India’s Mars mission, he said.
Control rooms are being set up at the Reserve Bank and the Department of Economic affairs in the finance ministry to help in the transition.
Tomorrow, Wednesday, the authorities said, will be a bank occasion and the treasury will likewise be shut. Mr Patel said the generation of the new high group notes had been increase “starting today and over the previous months… henceforth it was chosen to present the plan that the PM has reported.
Mr Das called the administration’s choice to drop the Rs. 500 and 1000 notes “an exceptionally intense, effective and unequivocal stride” to battle dark cash.