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Friday, 16 December 2011

DID YOU KNOW SERIES (9) ; FIFTY RUPEE NOTES ; CLASSIFICATION AND VALUATION.

DID YOU KNOW SERIES (9) : FIFTY RUPEE NOTES : CLASSIFICATION AND VALUATION.


Historical reference:

1)   The first 50 rupee notes were introduced by Reserve Bank of India in May 1975 during the tenure of S.Jagannathan (RBI Governor 16.06.1970 – 19.05.1975) the front had a watermark window on the left side and the Lion Capital on the right. Thirteen (13) Regional Languages are mentioned on the panel to the right of the Watermark window. The back showed a picture of the Indian Parliament with no flag on the flag mast /flagpole. This design continued for some time and was replaced during the time of I.G.Patel (RBI Governor 01.12.1977 – 15.09.1982) with the Indian flag on the flag mast/ flagpole and the words “Satyameva Jayate” appeared below the Lion Capital for the first time. This design continued during the tenures of Manmohan Singh (RBI Governor 16.09.1982-14.01.1985), R.N Malhotra (RBI Governor 04.02.1985 – 22.12.1990), S.Venkitaramanan (RBI Governor 22.12.1990 – 21.12.1992), C Rangarajan (RBI Governor 22.12.1992 – 22.11.1997) and Bimal Jalan (RBI Governor 22.11.1997 – 06.09.2003).

2)   Simultaneously, a new design with changed colours and  with a Mahatma Gandhi portrait on the front and a more distant and compact picture of the Indian Parliament on the back was introduced during the tenures of RBI Governors C. Rangarajan and Bimal Jalan which designs/format are still found on the fifty rupee currency notes being used by you today. Also, the number of Regional Languages was raised to 15.



The above is a front side image of a fifty rupee Note issued during the tenure of S.Venkitaramanan, (RBI Governor 22.12.1990 to 21.12.1992), showing Guilloche printing (defined as an ornament or design in the form of two or more bands or strings twisting over each other, so as to repeat the same figure, in a continued series, by the spiral returning of the bands), except in the corners which are plain white. The colour scheme is multicoloured, green, pink and violet.  

Notice the large Lion Capital of Emperor Asoka on the right hand side of the Note with the words “Satyameva Jayate” (Truth Always Prevails) below it. If you look at the serial number of the Note, the prefix of the above Note is ‘1RS’, the serial No. is ‘953443’. There is the letter “A “of the alphabet mentioned in the background of the serial number.  Hence, this note is said to have been issued with an “A” Inset. The serial number is mentioned on the bottom left and repeated on the top right hand side of the Note.

 Also notice that the promise to pay the bearer the sum of fifty rupees made by the Governor is mentioned first in English on the left hand side and then in Hindi on the right hand side. We will see that in Notes issued at some later dates, this pattern will reverse. Also, notice that the words “Reserve Bank of India (and) Guaranteed by the Central Government” are mentioned in English above and then in Hindi, below the English Inscription. This pattern will also reverse in Notes issued at some later dates. 

The symbol of the Reserve Bank of India figures on this Note at the bottom left hand side. Also, notice that the word “Governor” is mentioned as such both in English and Hindi and not translated into Hindi (The normal Hindi translation is “Rajyapal” or “one who manages/looks after the affairs of the State”, as this may be a misnomer while addressing the Governor of the RBI? Any other interpretations as to why the Hindi translation of the word Governor has not been made on currency notes? Or is it just an oversight?).
 
The value of a fifty rupee Note issued during the tenure of S. Venkitaramanan, in mint condition, would be about Rs.125/- about Rs.200/- or Rs.300/-.


The back of the Note shows the Indian Parliament with the flag flying on the Flagpole. No year of issue is mentioned below the image of the Parliament, which appeared for the first time only in 2005 on the back of Fifty Rupee Notes. Only the Hindi version of “Bhartiya Reserve Bank” appears at the back and not the English translation. The denomination of the Note is mentioned in numerals “50” on the top left hand side and bottom right hand side. The value of the Note “Pacchas Rupiye” appears in Hindi on the top right hand side and “Fifty Rupees” in English on the bottom right hand side.

This is an image of a fifty rupee Note issued during the tenure of C.Rangarajan. The Note is issued with a “Plain Inset” under the changed Mahatma Gandhi series. Notice that his name is mentioned as “M.K.Gandhi” ("Mo.Ka. Gandhi" in Hindi) below his large portrait on the right hand side, Also the Lion Capital has moved to the bottom left hand side along with the words “Satyameva Jayate” below it. The RBI symbol has now been placed to the right hand bottom corner. Also, the words “Bhartiya Reserve Bank” in Hindi are mentioned above the English translation “Reserve Bank of India”. Similarly, the Governor’s promise to pay fifty rupees to the bearer of this note is mentioned in Hindi first on the left hand side and then in English on the right hand side, unlike in the previous Note. 

(Remember that, both designs i.e. the one with the large Lion Capital on the right hand side as well as this design were issued during Dr. Rangarajan’s tenure as well as his successor Dr.Jalan’s tenure).


The back of the above Note showing a more compact and focused picture of the Indian Parliament (new design), with the flag flying on the Flagpole (perhaps, the Engravers of this new design are suggesting that now “the affairs of the Parliament” will be under more Media/public scrutiny (:-).
The numeral “50” is now mentioned at three places in the new design viz., top left and right hand sides and bottom left hand side. On the bottom left hand side the denomination of the currency Note “PACCHAS RUPIYE” is mentioned in Hindi in words and on the right hand side, “FIFTY RUPEES” is mentioned in English.
The Languages Panel has moved to the back of the Note and the number of Regional languages shown is now 15.
Again no year of issue is mentioned here.
The value of a fifty rupee note issued during Dr. Rangarajan’s tenure in mint condition would be about Rs.125/- to Rs. 200/-.

Now for a trick question :-



This is an image of a fifty rupee Note issued under the signatures of Bimal Jalan with the old design where the large/big Lion Capital, with the words “Satyameva Jayate” inscribed below it is shown on the right hand side . The note is issued with a “B” Inset. This design of Notes was issued with either “B” or “C” Insets, during Dr. Jalan’s tenure. Notice here, that on the right hand side, the letters “Yate” of “Jayate” are printed partially on the curve of the white coloured design on the bottom right hand side. The colours on this note are quite bright, so much so, that the white background design of the water-mark window on the left side is somewhat overshadowing the Regional languages which are appearing above the white pattern.



Now, take a look at this fifty rupee note which is also issued with a “B” Inset under Dr. Jalan’s signatures. Here notice that the colours on the note are somewhat dull. The “Jayate” inscription on the right hand side has now moved above the curve of the white coloured design on the bottom right hand side. Also, the languages overlapping the design in the watermark window on the left are more prominent than in the earlier note where the white pattern was more prominent.

The back of the first note showing the Indian Parliament with more prominent colours, particularly on the border of the water-mark window than the next image.



The back of the second note with slightly less prominent colours.

Now based on the above information, it would be interesting for you to analyse as to which of these two notes given above are genuine, or are both these notes genuine or whether both these notes are fake.
You want me to tell you? Sorry, I am still in the process of analyzing these notes myself, so I won’t be able to help you out (:-).

What are the clues that I am working on?? Notice that in the Note given at the beginning of this post issued during the tenure of RBI Governor, S. Venkitaramanan, the “Jayate” of “Satyameva Jayate” is above the curve of the white coloured design on the bottom right hand side. Most of the Notes issued thereafter till this “anomaly” are issued in this pattern. Does this mean that the second note given above is the genuine one? But, what about the brightness in the colours? The first note issued under Dr. Jalan’s signatures has more brightness in colours, which is more like the note issued during S. Venkitaramanan’s tenure. Does this mean that the first note is genuine?



The front side of a fifty rupee note issued with an “A” Inset during the tenure of Bimal Jalan as RBI Governor (22.11.1997 – 06.09.2003), which is similar to the previous Note issued during the tenure of C. Rangarajan except that “Mahatma Gandhi” has replaced “M.K.Gandhi” on the previous Note, showing more respect to the Father of the Indian Nation.



The above is an image of a fifty rupee note issued during Dr. Bimal Jalan’s tenure with an “E” Inset.



The above is an image of a fifty rupee note issued with“Plain Inset” during Dr. Jalan’s tenure. 



The front of a Note issued with an “L” Inset during Dr. Jalan’s tenure.


The front image of a Note issued with “R” Inset under Dr.Jalan’s signatures.



All the above mentioned Notes issued during Bimal Jalan’s tenure have the above design at the back which is similar to the design issued during Dr. Rangarajan’s tenure. Notice that no year of issue is mentioned on the back of all these Notes, as Dr. Jalan’s tenure as RBI Governor ended in September 2003.
The value of a fifty rupee Note issued during Bimal Jalan’s signatures would be about Rs.100/- to Rs.175/-.


The above is an image of a fifty rupee note issued during the tenure of Y.V.Reddy as RBI Governor (06.09.2003 to 05.09.2008). This Note is issued with an “E” Inset. “E” Inset notes were issued during Dr. Reddy’s tenure with no year of issue mentioned on the back (prior to 2005), and in 2005, 2006, 2007 and 2008.



Reverse of the above Note, showing no year of issue, this being one of the first few notes issued during Dr. Reddy’s tenure.


 The above is an image of a Note issued during Dr. Reddy’s tenure with an “F” Inset. This is the only time that a fifty rupee Note has been issued with an “F” Inset under the tenure of any RBI Governor, which I have come across. The image below indicates that there is no year mentioned at the back indicating that it was issued during the early part of Dr. Reddy’s tenure. I have managed to collect a few of these notes in mint condition. I understand that the value of these issues is substantially more than the other fifty rupee issues for collectors from this period of fifty rupee note issues.



An image of the front side of a fifty rupee note issued under Dr. Reddy’s signature with “Plain Inset”.


The back of the above note showing the year of issue as 2008 below the image of the Indian Parliament. “Plain Inset” notes in the fifty rupee denomination were, also, issued in 2005, 2006 and 2007 under Dr. Reddy’s signatures.


 
The above is an image of the front side of a 50 rupee note issued under Dr. Reddy’s signatures with an “L” Inset.


The back of the above note, showing the year of issue as 2005. “L” Inset fifty rupee notes were issued during Dr. Reddy’s tenure with no year mentioned at the back, in 2006 and 2007.



The front-side image of a fifty rupee note issued with an “R” Inset under Dr. Reddy’s signatures.



The back of the above note, showing 2008 as the year of issue. “R” Inset fifty rupee notes were also issued with no year mentioned at the back,2005,2006 and 2007 during his tenure.
The value of a fifty rupee note issued during Dr. Y.V.Reddy’s tenure would be about Rs.75/- to Rs. 150/- depending on the series/ Inset it is issued under. Also, fifty rupee notes issued with F” Inset are worth substantially more .

The following fifty rupee notes were issued during the tenure of Dr. D.Subbarao (RBI Governor 06.09.2008 – present day)


The above image is of a fifty rupee Note issued with “Plain Inset” during Dr.Subbarao’s tenure. Plain Inset fifty rupee notes were also issued during his tenure in 2010 and 2011.

The back of the above note, showing the year of issue as 2009.


The front of a fifty rupee Note issued with an “L” Inset in 2011 during Dr. Subbarao’s tenure.


The back of the above note, showing the year of issue 2011 below the image of the Indian Parliament. “L” Inset fifty rupee notes were also issued in 2009 and 2010, during his tenure.



An image of a note issued with “R” Inset during Dr.Subbarao,s tenure. 


The back of the above note, issued in 2009.
 Notes were also issued during Dr.Subbarao’s tienure with an “E” Inset in 2009 and 2010.

The value of a fifty rupee note issued during Dr. D. Subbarao’s tenure in mint condition is worth face value for later issues,  going upto Rs.75/- or Rs.100/- for earlier issues .

Posted on 08.11.2012:

I have managed to get a rupee symbol fifty rupee note from my friend Dennis in Gurgaon whom I was visiting last week.


The front of the fifty rupee note showing the rupee symbol before the numerals "50" on the top left and right hand sides of this note, while retaining the other features of the previous issues. (To view the scan with more clarity, please click on the image).


The back of the fifty rupee Note showing the rupee symbol again before the "50" numerals mentioned on the top left hand and right hand sides.

Posted on 23.01.2014:

Reserve Bank of India has now decided to withdraw all currency notes issued prior to 2005, without specifically mentioning that these Banknotes will cease to be legal tender. From April 2014 all Banks will accept and exchange pre-2005 Banknotes. These Banknotes are easily identified by the absence of the year of printing on the Back of the Note. RBI estimates that the maximum number of fake currency Banknotes are from the period prior to 2005. From 01.07.2014, to exchange more than 10 pieces of Rs.500/- and Rs.1000/- banknotes, non-customers will have to furnish identity and address proof to the Bank Branch.  However, it is expected that later on RBI will issue a communication advising users the final date upto which Banknotes prior to 2005 will be accepted by the Bank. 


Therefore, please start examining the year of issue"at the back of the currency Notes passing through your hands, so as not to face the inconvenience of going to a Bank Branch for returning the currency issued prior to 2005.


While this is a welcome step, RBI needs to have a policy in place to take the remaining counterfeit Banknotes issued after 2005, like changing/revamping the Front and Back designs, adding more effective security features etc. so as not to put users at risk of accepting counterfeit currency Banknotes.


 Posted on 03.03.2014:   

   The Reserve Bank of India has extended the date for exchanging the pre-2005 banknotes to January 01, 2015. It has also advised banks to facilitate the exchange of these notes for full value and without causing any inconvenience whatsoever to the public.
   RBI has further clarified that the public can continue to freely use these notes for any transaction and can unhesitatingly receive these notes in payment, as all such notes continue to remain legal tender till that date.
Posted on 28.08.2014:

I have acquired my first Rs.Fifty Banknotes, signed by the present RBI Governor Raghuram G. Rajan from a toll collection post while travelling from Chennai to Coorg last week. The scans of the Front & Back of this Banknote are placed below for reference:
 The Front of the Rs.50/- Banknote signed by Raghuram G. Rajan issued with a Plain Inset in January 2014
The Back of the above Banknote showing the year of issue as 2014.


Now I am on the look-out for Rupees Fifty Banknotes issued with "L" Inset (proposed for issue anytime after April 2014) and "R" Inset (proposed for issue anytime after August 2014).

Posted on 31.12.14: 

 The Reserve Bank of India (RBI) has extended the deadline for turning in pre-2005 Banknotes to 30.06.2015. While these Banknotes would be treated as legal tender upto this period, but RBI would destroy them as and when they come into Bank branches. 

RBI has sought the general public’s cooperation and urged them to deposit the old design Banknotes in their Bank accounts or exchange them at a bank branch convenient to them. 

RBI has further mentioned that the Banknotes can be exchanged for their full value till this date. Check out all your Banknotes and deposit all such Banknotes (i.e. without the year of issue printed at the back) at convenient Bank branches before the scheduled date.

Posted on 28.02.2015:
The undernoted is a scan of a Rupees Fifty Banknote issued during the tenure of Raghuram G. Rajan, RBI Governor bearing the Inset "L":
The Front of the above Banknote showing the "L" Inset.
 The Back of the above Banknote showing the year of issue as 2014.
Posted on 07.03.2015

While sifting through my Banknotes collection, I discovered the undermentioned Rs. Fifty Banknote which was issued under RBI Governor Raghuram G.Rajan's signatures in 2013 with a Plain Inset.
The Front of the above Banknote issued in 2013 showing a "Plain" Inset.
  The Back of the above Banknote showing the year of issue as 2013.


Posted on 26.06.2015:

The Reserve Bank of India has extended the date for the public to exchange their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015.

Soliciting cooperation from members of public in withdrawing these banknotes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them. 

The Reserve Bank has further stated that the notes can be exchanged for their full value. It has also clarified that all such notes continue to remain legal tender.

Posted on 17.07.2016:

I am updating this post after a long time because of my preoccupation with other posts. The indernoted is an image of a Rupees Fifty Banknote issued in 2015 with a Plain Inset:
 The Front of the above Banknote issued in 2015 showing a "Plain" Inset
  The Back of the above Banknote showing the year of issue as 2015
  
 The following is an image of a Rupees Fifty banknote issued with an "ascending numerals"  or "exploding font" serial number  a security feature which has been carried over to smaller denominations of Banknotes viz Rs.10, 20 and 50, after the launch of this design in the higher denominations viz. Rs.100, 500 and 1000 (which also carry the Bleed line feature on either side of the Front. 
The Front of the above Banknote issued in 2016 showing an "E" Inset which I collected a few days ago at a Provisions Store. Notice that the Serial number 261713 is in an exploding font format, while the other features of the earlier design have remained unchanged.
  The Back of the above Banknote showing the year of issue as 2016, otherwise it exhibits no change from the earlier design

The following Banknote images have been sent to me by Zaheer Hasan for illustration:
The Front of a Rs.Fifty Banknote issued in 2015 with an "E" Inset exhibiting the exploding font features in its serial number "691149"
 The Back of the above Banknote showing the year of issue as 2015, otherwise it exhibits no change from the earlier design
 The Front of a Rs.Fifty Banknote issued in 2016 with an "E" Inset exhibiting the exploding font features in its serial number "751821"
The Back of the above Banknote showing the year of issue as 2016.
 The Front of a Rs.Fifty Banknote issued in 2016 with an "R" Inset exhibiting the exploding font features in its serial number "600600".
The Back of the above Banknote showing the year of issue as 2016.This Banknote is contained in the undernoted packet of 100 pieces.
The Front of a Rs.50/- Banknote packet of 100 pieces with the exploding font serial numbers with an "R" Inset from Zaheer's collection, issued in 2016. 
 The Back of the above Rs.50/- Banknote packet showing the year of issue as "2016".

Posted on 09.11.2016:

Fighting Black Money in India:

After the recently closed Black Money Voluntary Disclosure Scheme, which closed on end September 2016, the Government of India has brought in a major step on 08.11.2016 in its war against corruption, terrorism and black money.

Before the present Government took over the reins of Government about two years ago, India ranked around 100 in global rankings of corruption. Presently, it ranks 76th.

Black Money estimated at about Rs.1.25 lakh crores has been brought back to India according to Indian Prime Minister Narendra Modi. Nevertheless, this is not an exemplary position to be in, as such, the Government has taken some drastic measures:

The Indian Prime Minister Narendra Modi in a televised address to the nation on 08.11.2016 evening announced the demonetisation of the presently circulating higher denominations of currency viz. Rs.500/- and Rs.1000/- with effect from the coming midnight i.e. midnight of 08.11.2016. He stated that the Banknotes of these denominations will “just be worthless pieces of paper”. The Banknotes of all the lower denominations of Rs.100/-, Rs.50/-, Rs.20/-, Rs.10/-, Rs.5/-, Rs.2/- and Re 1/- and all coins will continue to be accepted as legal tender. In addition, new Banknotes in the denominations of Rs.2000/- and Rs.500/- will be introduced.

Also, there will be no change in any other form of currency exchange i.e. cheques, Demand Drafts, credit card or debit card payments.

This has been necessitated as the Government has been fighting the menace of black money and corruption over the past two years when it was voted to power.

To facilitate the smooth transition to the new money regime, Banks will be closed on 09.11.2016.

Presently, Rs.500/- and Rs.1000/- Banknotes which have been demonetised account for 86.4 % of the total value of Banknotes which were in circulation as of 31.03.2016.

Some instances, where the Rs.1000/- and Rs.500/- old Banknotes can still be used:

Existing Rs.500/-  and Rs.1000/- Banknotes will be accepted till 11.11.2016 at Government hospitals, pharmacies in Government hospitals (with prescriptions), Railway counters, Government buses, Airline counters, petrol pumps, Cooperative stores run by Government, milk booths of State agencies, crematoria and burial grounds.

The result of this announcement:

I saw huge crowds of four wheelers and two wheelers at petrol pumps which stayed open, but several petrol pumps closed before time.

Two Shopping Malls in the vicinity of my residence remained open till midnight and saw unprecedented rush of shoppers, as Banknotes of Rs.1000/- and Rs.500/- denominations remained legal tender till midnight of 08.11.2016.

Several persons stood patiently in serpentine queues to withdraw small denomination Rs.100/- Banknotes to meet their expenses over the next few days, as a result, several ATMs went out of cash.

What else?

On 9th and 10th November 2016, ATMs will not work, as smaller denomination banknotes will be arranged for by the ATM Management Groups/Banks.

All Banks will remain closed on 09.11.2016.

From 10.11.2016 to 31.12.2016, customers can deposit Banknotes of Rs.500/- and Rs.1000/- in any Bank or Post Office. However, there is a condition – the depositor will have to show a proof of identity. One can deposit any amount into one’s own account, but if KYC documents have not been submitted, the limit is Rs.50,000/-

This condition will be relaxed somewhat, as after 31.12.2016, one can still deposit old Banknotes with valid ID proof at specified offices of RBI, to be intimated later, till 31.03.2017.

No restrictions on payments by cheques, DD, debit/credit cards & electronic funt transfer (EFTs) has been made.

From 10.11.2016, Banks and Post Offices will operate for extended hours to facilitate the unprecedented rush of deposit of the cash  into deposit accounts. 
The exchange facility is available at all Issue Offices of RBI and branches of commercial banks/RRBS/UCBs/State Co-op banks or at any Head Post Office or Sub-Post Office.


Depositors can withdraw up to Rs.2,000/- per day per card from ATMs till November 18 and Rs.4,000/- per day per card after this date.

The ATMs will resume functioning from November 11, 2016 upon their recalibration to dispense bank notes of the denominations of Rs.50/-, Rs.100/- Rs.500/- and Rs.2,000/-
Further, so as to ensure customer convenience, banks are also advised to provide all cash withdrawal transactions at their ATMs free of cost to their customers till 30 Dec 2016. It has also been decided that banks may fix a limit of Rs 2000/- per day per card withdrawal limit at ATMs, for all their customers, till November 18, 2016.  For deposits being made at Banks and other establishments, please note, that one will get upto ₹4000 per person in cash irrespective of the size of tender and anything over and above that will be receivable by way of credit to bank account.

Thereafter, one can withdraw up to Rs.10,000/- per day and Rs.20,000/- per week either through withdrawal slips, cheques or through ATMs from Banks till 24.11.2016. After this date, the limit will be raised.

Depositors can withdraw up to Rs.2,000/- per day per card from ATMs till November 18 and Rs.4,000/- per day per card after this date.

Freshly designed Banknotes of Rs.500/- and Rs.2000/- with chips in them will be introduced on Thursday, i.e. 10.11.2016.

One can contact the following RBI & Government helpline numbers for any query – 022-22602201 and 022-22602944 (RBI) and Ministry of Finance: 011-23093230.

Property prices could drop substantially in the secondary market, as there is an estimated 60:40 (Legal-to-Black money ratio) in operation as at present.

This step is also aimed at stamping out the menace of corruption and terror funding, as terrorists from across the border have been using fake currency notes.

A word of caution:

One can also deposit the demonetised currency in someone else’s account with written authorisation and one’s ID proof.

The Government/RBI has cautioned citizens against exchanging other person’s unaccounted cash at Banks/Post Offices. Security cameras will monitor transactions at branches and the exchange will be recorded.

Introduction of the new denominations of Rs.2000/- and R.500/-:

Reserve Bank of India has yet to decide the limit for individuals for possession of Banknotes of higher value i.e. Rs.2000/- and Rs.500/- which will be put into circulation from 10.11.2016.
 The Front of the new Rs.2000/- Banknote which is now going to be in circulation wef 10.11.2016    
The Back of the new Rs.2000/- Banknote shows the Mangalyaan which is the Mars Orbiter     
The salient features of the new Rs.2000/- Banknotes are:

The Series will be called the Mahatma Gandhi (New) Series.

The Banknotes will bear the signatures of Dr. Urjit R. Patel, RBI Governor.

The year of printing will start from 2016 which will be printed on the Back of the Banknote.
The new denomination has the motif of the "Mangalayan" on the Back, which is India's first venture in inter-planetary space.
The base colour of the Banknote is magenta .
The Banknote has other designs, geometric patterns aligning with the overall colour scheme, both on the Front and Back. 

Other important features of the Banknote:

On the Front: See through Register with denominational numeral 2000

Latent image with denominational numeral 2000

Denominational numeral 2000 in Devnagri

Portrait of Mahatma Gandhi at the centre

Micro letters “RBI” and “2000” on the left side of the Banknote

Windowed security thread with inscriptions “Bharat” (in Hindi), RBI and 2000 on Banknotes with colour shift. Colour of the thread changes from green to blue when the Banknote is tilted

Guarantee Clause, RBI Governor’s signature with Promise Clause and RBI emblem towards the right

Denominational numeral with Rupee symbol “R 2000” in colour changing ink (green to blue) on bottom right, Ashoka Pillar emblem on the right.

Watermarks: Mahatma Gandhi portrait and electrotype (2000).

Number panel with numerals growing from small to big on the top left side and bottom right side

For visually impaired:

Intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, Bleed lines and identity marks.

Horizontal rectangle with “R2000” in raised print on the right.

Seven angular bleed lines on the left and right side in raised print

Other features:

Year of printing on the Banknote on the left

Swachh Bharat” logo with slogan

Language Panel towards the centre

Motif of Mangalyaan

Denominational numeral “2000” in Devnagri

Size/Dimensions of the Banknote: 166 mm x 66 mm


The Front of the new Rs.500/- Banknote which is now going to be in circulation wef 10.11.2016   
The Back of the new Rs.500/- Banknote shows the Red Fort in New Delhi
 The salient features of the new Rs.500/- Banknotes are:

The Series will be called the Mahatma Gandhi (New) Series.

The Banknotes will bear the signatures of Dr. Urjit R. Patel, RBI Governor.

The year of printing will start from 2016 which will be printed on the Back of the Banknote.
The new Banknote is different from the present series in colour, size, theme, location of security features and design elements.
The colour of the Banknote is stone-grey.
The Banknote has a pre-dominant new theme - Indian heritage site - Red Fort.
On the Front: See through Register with denominational numeral 500

Latent image with denominational numeral 500

Denominational numeral 500 in "Devnagri"

 Portrait of Mahatma Gandhi at the centre

Micro letters “RBI” and “500” on the left side of the Banknote

Windowed security thread with inscriptions “Bharat” (in Hindi), RBI and 500 on Banknotes with colour shift. Colour of the thread changes from green to blue when the Banknote is tilted

Guarantee Clause, RBI Governor’s signature with Promise Clause and RBI emblem towards the right

Denominational numeral with Rupee symbol “R 500” in colour changing ink (green to blue) on bottom right, Ashoka Pillar emblem on the right.

Watermarks: Mahatma Gandhi portrait and electrotype (500).

Number panel with numerals growing from small to big on the top left side and bottom right side

For visually impaired:

Intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, Bleed lines and identity marks.

Horizontal rectangle with “R500” in raised print on the right.

Five angular bleed lines on the left and right side in raised print

On the Back:

Year of printing on the Banknote on the left

Swachh Bharat” logo with slogan

Language Panel towards the centre

Motif of Red Fort, New Delhi

Denominational numeral500” in Devnagri

Size/Dimensions of the Banknote: 150 mm x 63 mm 

  A cartoonist's impression of how the demonetised Banknotes can be used - by eating snacks on them.
This is a handy chart showing the various dates and options available to the customers/depositors  
This form is to be filled in , in case the demonetised currency is being deposited in a non-home Branch/Post Office.










 Links to other posts on Indian Currency denominations on this blog:

Introduction of the new Rs.2000/- denomination in Indian Currency circulation wef 10.11.2016 

 Classification and Valuation of Rs.500/- Notes 

  Classification and Valuation of Rs.100/- Notes

Classification and Valuation of Rs.50/- Notes 

Classification and Valuation of Rs.20/- Notes 

Classification and Valuation of Rs.10/- Notes 

Classification and Valuation of Rs.5/- Notes 

Did-you-know-series-1: Assists for identification of Currency Notes by visually challenged users 

Did-you-know-series-2-what-is-design-or focus of the picture at the back of circulating Currency Notes in India

Are you carrying a Fake Rs.500/- Banknote in your purse/wallet?: A comprehensive study 

15 comments:

  1. Sir,

    I need help in identifying which year a note was issues. A black 10 rupee note with 2 boats at the reverse, V27 series with a D inset. This was issued during Manmohan Singh's tensure

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  2. Hi,
    Manmohan Singh was RBI Governor during 16.09.1982 to 14.01.1985. The Banknote with the "D" Inset, that you have mentioned was issued during the beginning of his tenure as RBI Gov. with prefixes S,T,U,V, and W. Since V prefixes are the 4th issues after S,T and U, my assessment is that your Note was issued sometime in mid to late1983. Later, Singh issues in the same designs were with "E" Insets with prefixes from A to U with some omissions and then again with the revised designs with "A' Inset till the end of his tenure.

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  3. i have a doubt. 50 rupees gandhi series introduced in 1996. and bimal jalans tenure from 22 nov. 1997. why bimal jalans sign on old type loin capital note.

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    1. This is an excellent observation. However, the Lion Capitol design Banknotes were issued simultaneously with the Mahatma Gandhi series for some time during Mr. Bimal Jalan's tenure too, as well as that of his predecessor Dr. C. Rangarajan hence the two different designs signed by him.

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  4. I have two bundles of Rs.50 notes of Bimal Jalan - Mahatma Gandhi series - plain inset - How much would I get and where / Any Buyers ?

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  5. Thanks for sharing such an informative blog. And I agree with sopariwala. Jindal Bullion

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  6. RAJEEV JI AT LAST I GOT FIRST ISSUE OF ASSENDING NO IN 50 RS - 'R' INSERT 2015
    AND SECOND ISSUE IN 10 RS - PLANE INSERT ASSENDING NO. 2016

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  7. Great, Zaheer. I managed to collect both these issues, when I had gone out of station recently. These will be the last few issues with the previous RBI governor,'s signature and are a good acquisition.

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  8. Ya you are right Rajeevji but I must say that I am very pleased that your interest is back in your blog and you are taking good care of it.

    In 20Rs also a lot of issues are on their way so far I got four of them like A, S insert, E insert,the first ascending in 20Rs and most important E insert of S.Rao 2014

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    1. Yes, I was out of station for about two weeks and very busy, so I could not manage the blog at all. I am trying to catch up on the number of articles posted, because I will be out of station next month, again for about two weeks.

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  9. Dear Sir
    I had my marriage gift Rs 5000 in 50 rupees notes (very old without year printing) How to deposit in bank now

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    1. Dear Anonymous, Banks may not accept them now. However, you could request your bankers to send them in collection to Reserve Bank of India, explaining the extraordinary circumstances and RBI might just accept your request. Alternately, you could talk to someone in an RBI office and find a way out of this problem. Also, you could write to the Ministry of Finance on their online website and see if they can help you out as a special case.

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    2. Dear Anonymous, Banks may not accept them now. However, you could request your bankers to send them in collection to Reserve Bank of India, explaining the extraordinary circumstances and RBI might just accept your request. Alternately, you could talk to someone in an RBI office and find a way out of this problem. Also, you could write to the Ministry of Finance on their online website and see if they can help you out as a special case.

      Delete