New Delhi: RBI on Sunday asked people not to come over to banks repeatedly to draw money and hoard it. “The RBI assures members of the public that enough cash in small denominations is also available at the RBI and banks,” it said in a statement. RBI urged public not be anxious. “Cash is available when they need it,” said the central bank.
Banks on Sunday started giving the new Rs 500 notes also. SBI’s Parliament Street branch was the first to give Rs 500 notes in Delhi.
Earlier, RBI had said that keeping in mind the need for other denomination notes which are legal tender (including Rs 2000), adequate stocks of these notes are kept ready in the currency chests located at more than 4,000 places across the country.
“Bank branches are linked to them to source their requirements from them. To sustain the demand, printing presses are printing the currency notes at full capacity so that adequate quantum of notes is available,” RBI had said on Saturday.
New Rs 500 note and features
- The new Rs 500 banknotes will inset letter ‘E’ in both the number panels, bearing the signature of RBI governor Dr Urjit R. Patel. The year of printing is ‘2016’. A Swachh Bharat logo is printed on the reverse of the note.
- This note is different from the withdrawn Rs 500 notes in colour, size, theme, location of security features and design elements.
- The grey-coloured note is 66 mm in height and 150 mm in length. It has an image of Red Fort with Indian flag on the reverse.
- It has features (intaglio printing) which lets an visually-impaired identify it.
