Fake news about Rs.10 Coins ban- see below
All notes of Rs.1000 and Rs.500 will cease to be legal tender or will not be valid effective 9.11.16
All such Bank notes stand withdrawn or abolished with immediate effect
Prime Minister made an announcement late evening of 8th Nov.2016 saying that as from midnight tonight all existing Rs.500 and Rs.1000 notes will be just like a piece of paper (no value).
Never saw or heard of it with such a shortest notice
This is done to curb Black Money, fake currency, corruption etc
New note - Rs.2000
Withdraw Rs.2000 and you may get just one note
ATM - Dispenser with just one note (new)
I know there were many fake 1000 Rs. notes in circulation, often come from bank counter itself. I was a victim myself, twice.
For a common man (including me) it was very difficult to detect..
In view of above and curbing black money etc I think, it is a right move by the Govt.
I know there will be some inconvenience at least for a month or so
Wherever possible, we should use our debit card (most of us have but used at ATMs only) for payments at outlets wherever cards accepted. Fyi, even Sahakari bhandar in the State accept cards besides other super markets and stores. Plus, we can use cheques, electronic money transfer NEFT, RTGS etc via net Banking, water bill, Light bill, phone bill etc can also be paid online etc.
Video: Bank opening day 1
Quote from RBI: 10.11.16
Withdrawal limit lifted in March 2017
Some limits revised later on
Government of India vide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of ₹ 500 and ₹ 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016.
This is necessitated to tackle counterfeiting Indian banknotes, to effectively nullify black money hoarded in cash and curb funding of terrorism with fake notes.
Starting from November 10, 2016, members of public/corporates, business firms, societies, trusts, etc., holding these notes can tender them at any office of the Reserve Bank or any bank branch and obtain value thereof by credit into their respective bank accounts.
For their immediate cash needs, these notes of value up to
Public are advised to present a valid proof of identity for availing this exchange facility.
Value credited to their bank accounts can be freely used by issue of cheques or by remitting through various electronic modes of transfer like NEFT, RTGS, IMPS, mobile banking, internet banking etc. Cash withdrawals from bank accounts, over the bank counters, will be restricted to a limited amount of ₹ 10,000 per day subject to an overall limit of ₹ 20,000 a week from November 9, 2016 till end of business on November 24, 2016. The limits will be reviewed after this.
All ATMs and other cash machines will remain shut on November 9, 2016 to facilitate recalibration. When ready, they will be reactivated and cash withdrawals from ATMs will be restricted to ₹ 2,000 per day per card up to November 18, 2016 and the limits shall be raised to ₹ 4000 per day per card from November 19, 2016.
Any person who is unable to exchange or deposit the specified banknotes in their bank accounts on or before December 30, 2016 shall be given an opportunity to do so at specified offices of the Reserve Bank or such other facility until a later date as may be specified by the Reserve Bank
Banks closed on 9th Nov
ATMs to remain closed for two days 9th & 10th Nov
Most ATMs remained closed on third day too
Banks to remain open for public on Saturday, November 12 and Sunday, November 13, 2016In order to meet the anticipated heavy demand from members of public to conduct their banking transactions, it has been decided that banks shall remain open for public transactions on Saturday, November 12 and Sunday, November 13, 2016. Banks are advised to keep all their branches open on November 12 and 13, 2016 as regular working days for transacting all business. Banks may give due publicity about availability of banking services on these days.
New Rs.500 note
First time I had it on 20.12.16
Available with ATMs too
Form to fill in and submit
Request form for Exchange of Old 500 & 1000 Rs. notes
22. I am a foreign tourist, I have these notes. What should I do?You can purchase foreign exchange equivalent to ₹5000 using these Specified Bank Notes at airport exchange counters within 72 hours after the notification, provided you present proof of purchasing the Specified Bank Notes.
23. I have emergency needs of cash (hospitalisation, travel, life saving medicines) then what I should do?You can use the Specified Bank Notes for paying for your hospitalisation charges at government hospitals, for purchasing bus tickets at government bus stands for travel by state government or state PSU buses, train tickets at railway stations, and air tickets at airports, within 72 hours after the notification.
Some new, existing and old notes, sizes etc New 200 coming soon
New Rs.2000 will look like this see large at the bottom / below
New design Rs.500 note
click for bigger view / reading, see large at the bottom / below
Victim once again!!
One of the two is fake discontinued eff 9/11/16
Video 2 discontinued eff 9/11/16
Some pics discontinued eff 9/11/16
Update June 2015
Older notes of all denominations (Rs 5, 10, 20, 50, 100, 500 and Rs 1,000) without 'year' mention on its reverse are withdrawn by RBI Such notes can be freely exchanged at any bank branch till June 30, 2015 (this date was earlier extended from Jan 2015)
Currency notes issued before 2005 do not have the 'year' of printing on the reverse side. see scanned image red Circle. In notes issued after 2005 the year of printing is visible at the bottom of the reverse side - see Scanned image Blue Circle year '2015'
I just found 8 Rs.500 notes in my travel wallet
discontinued eff 9/11/16
More examples old and new
Looks like Fake currency notes in circulation all over Goa (thanks to Casino ?). I was a victim today at two banks -
I withdrew from one bank (a sealed bundle of 1000x100) only to deposit into another. There they detected a fake note... went back to Canara Bank within 15 minutes of withdrawal and they exchanged the note 'just like that'.... if it was not in a bundle, I am sure they would have reported me to the Police (which is the normal practice).
When asked what exactly was fake? They said 'watermark' Gandhi looked like a cartoon and the text on 'security thread' line was missing, plus paper was thicker etc
It was really an embarrasing moment at both banks as many officers involved in double checking of the notes as well as the people who gathered there..
God knows how many more such notes are fed into the ATM machines.
It also appears that finding or detecting fake notes is an everyday phenomenon.
In Goa, some police too are allegedly involved in Fake currency notes circulation as there were some headlines in the local newspapers recently
Know your notes here..
At present (Jan. 2012) notes in India are issued in the denomination of Rs.1000, Rs.500, Rs.100, Rs.50, Rs.20, Rs.10 & Rs.5
The printing of notes in the denominations of Re.1 and Rs.2 has been discontinued as these denominations have been coinised. However, such notes issued earlier are still in circulation – see last pic Rs.2
use the links for larger view
Rs.1000 - discontinued eff 9/11/16http://www.flickr.com/photos/joegoaukextra3/6674751727/sizes/l/
Rs.500 discontinued eff 9/11/16
Know your 1000 rupees note - Security features - see below
Mr Prime Minister, when will you demonetise these confusing Coin Currency?
IMPORTANT: FAKE News
The news about banned Rs.10 coins or Fake Rs.10 Coins is nothing but a rumour
₹ sign or symbol was introduced around 2011 and Rs.10 coins
are in circulation since 2005. Over the period there can be over 10 variations in Rs.10 coins. If two coins are not same or not identical that does not mean one is fake.
Looks like this news / rumour spread from as early as October / November 2016 probably in north eastern States of India. The rumour started spreading in Goa Feb/March 2017
From Local TV 25.3.17
TOI goa 31.3.17
Just because Bharat/India printed together on top does not mean it is fake. Just beacause 10 appear in the centre does not mean it is fake.Just because the coin does not have the new Rupee ₹ symbol it does not make it fake.
Fyi, The new ₹ symbol was introduced only in 2011 but Rs.10 coins were in circulation since 2005
RBI Press release of 2009 on Rs.10 Coins series
Read it bigger here
Other coins of similar design but not fake (Rs.2 coins)
Some coins are not user-friendly. Often its confusing to know which one is 1 Rupee coin and
which one Rs.2 coin. Same look, same size, same shape, same weight etc
Even those who handle it on day to day basis like Bus Conductors etc find it confusing
Govt. should sort this inconvenience caused to common man by standardising of Coins denomination by size, shape and or weight.
Check this video 1 (old news)
From RBI Website
Are there any special features introduced in the notes of Mahatma Gandhi series?
The new Mahatma Gandhi series of notes contain several special features vis-à-vis the notes issued earlier. These are:
i) Security thread: Rs.10, Rs.20 and Rs.50 notes contain a readable but fully embedded security windowed security thread. Rs.100, Rs.500 and Rs.1000 notes contain a readable windowed security thread. This thread is partially exposed and partially embedded. When held against light, this thread can be seen as one continuous line. Other than on Rs.1000 notes, this thread contains the words 'Bharat' in the devnagri script and 'RBI' appearing alternately. The security thread of the Rs.1000 note contains the inscription 'Bharat' in the devnagri script, '1000' and 'RBI'. Notes issued earlier have a plain, non-readable fully embedded security thread.
ii) Latent Image: A vertical band behind on the right side of the Mahatma Gandhi’s portrait, which contains a latent image, showing the denominational value 20, 50, 100, 500 or 1000 as the case may be. The value can be seen only when the note is held on the palm and light allowed to fall on it at 45° ; otherwise this feature appears only as a vertical band.
iii) Microletterings: This feature appears between the vertical band and Mahatma Gandhi portrait. It contains the word ‘RBI’ in Rs.10. Notes of Rs.20 and above also contain the denominational value of the notes. This feature can be seen better under a magnifying glass.
iv) Identification mark: A special intaglio feature has been introduced on the left of the watermark window on all notes except Rs.10/- note. This feature is in different shapes for various denominations (Rs.20-Vertical Rectangle, Rs.50-Square, Rs.100-Triangle, Rs.500-Circle, Rs.1000-Diamond) and helps the visually impaired to identify the denomination.
v) Intaglio Printing: The portrait of Mahatma Gandhi, Reserve Bank seal, guarantee and promise clause, Ashoka Pillar Emblem on the left, RBI Governor's signature are printed in intaglio i.e. in raised prints in Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 notes.
vi) Fluorescence: The number panels of the notes are printed in fluorescent ink. The notes also have optical fibres. Both can be seen when the notes are exposed to ultra-violet lamp.
vii) Optically Variable Ink: The numeral 500 & 1000 on the Rs.500 [revised colour scheme of mild yellow, mauve and brown] and Rs.1000 notes are printed in Optically Variable Ink viz., a colour-shifting ink. The colour of these numerals appear green when the notes are held flat but would change to blue when the notes are held at an angle.
Further reading (from the net, Bombay incidence )
Yesterday (03/12/2011), I went to withdraw money from SOUTH INDIAN BANK's ATM, I found two fake notes of RS. 500. I asked the watchman to call the branch manager but since he didn't had the contact number of the manager, I dialed 100 and forced the cops to come and check..!! Sadly, even cops don't have the basic knowledge about real and fake notes..!! They took me to police station to take my statement..!! I had to spend 3 hrs in the station just because I didn't wanted others to withdraw fake notes from that ATM. The Sub Inspector was questioning me as if I did something wrong..!! He also said that I did the wrong thing by calling the emergency number..!! As per him, this wasn't a emergency..!! I was just shocked..!! They don't even know the seriousness of fake currency..!! My question to Mumbai Police commissioner is, "why don't you just re-train the cops..!! They also said that instead of contacting them, I should have contacted the bank..!! Even a illiterate can understand that the bank manager will try to close the matter there and there itself..!! Then how will you find out the criminals who plotted those fake notes in the ATM..??"Cops took the ATM slip and the fake notes. When I asked the cops "by when I can expect the report of those notes..? He said "Can't say..!! It may take 4 months or even a year...!!" this statement is very carefree and shows their dedication towards resolving a major issue which has direct connection with our Indian economy..!!
New notes eff Nov 2016