Variants of 500 Note have started making the news now after demonetization. Note Ban has already created differences in the oppositions from the ruling party BJP. However, the latest mistake from the RBI printing could just make the protest more aggressive. As per the latest news and the reports, two variants of 500 note has surfaced and RBI has quickly come to the defence. The printing mistake has been said as the reason but in a situation like this, is it accepted?
RBI can sense the unnerve crowd standing in the queue and such blunder could just reduce the faith of the people from the system. Even though the demonetization move has been termed as bold and constructive against black money, but there is no denial that it has created a cash crunch in the country. At a time, when the 500 notes are very much required to ease out the situation, variants of 500 note have been found. There has been no official declaration from the RBI or the government, but that could worsen the situation. As per the Economic Times, it could increase the risk of the fake currency.
There are guidelines that give a clear indication to recognize the original note. However, the variants can lead to more trouble for the common people. It is still not clear whether the notes will be pulled out from the market and if yes then how. However, good thing is that the circulation of the 500 notes is still not at a massive scale and many parts of the country are yet to receive it.
This could save the RBI and the government from a set back from the variants of 500 notes.
Read More from Us