Shortly after the introduction of new 500 INR notes, Indian citizens have noticed at least three different variants. Each variant is different from the others in terms of alignment, color, printing and emblems. Alpana Killawala, the spokesperson for Reserve Bank of India said that this due to current rush following demonetization of 500 and 1000 INR currency notes. “It is likely that notes with printing defect has got released due to the current rush. However, people can freely accept such a note in transaction or return it to RBI.”
Experts are fearful that such inconsistencies would allow counterfeit 500 INR notes to creep in, thus thwarting one of the major one of the major objectives of demonetization. As per reports, at least three different variants of 500 INR notes have been noticed. One of them is the standard issue, as intended by government and RBI. One has multiple alignment issues including the alignment of serial number and visible shadow of Mahatma Gandhi’s face. Parts of the note’s design also seems to seep inside the white border on the left.
Another note has been issued which is lighter in color than the standard issue 500 INR notes. An IPS officer remarked to TOI saying, “As it is people find it difficult to understand all features of an official note and fail to check for everything before they accept one. Now, if there are too many versions of the official note, slipping in another would be easier than otherwise.” Former Home Secretary GK Pillai told TOI, “If the RBI says there is only one new 500-note it is printing, there should exist only one.”