The demonetization in 2016 was not the first time in the country, even before this the notes of 1000, 5000 and 10,000 rupees have been demonetized, but most of the people are not aware about it. Let us tell you when this note was closed and when it was started.
After the Demonetization News across the country, the news of currency is spreading rapidly. The old notes of 500 and 1000 rupees were banned by the Central Government.
But do you know that this was not the first time of demonetisation. Even before this, 1000, 5000 and 10,000 rupee notes have been demonetized in India, but most people are not aware of this.
10,000 note has been out of circulation twice
According to the information available on the RBI website, RBI had printed a note of Rs 10,000 for the first time in the year 1938. This note was the biggest note ever printed by RBI. But it was demonetized in January 1946. After this, once again in the year 1954, a note of 10,000 rupees appeared. But in 1978 they were demonetized again.
Know which notes have been out of circulation
According to the information available on the RBI website, in January 1946, the first bank notes of 500, 1000 and 10000 were taken out of circulation. Banknotes of 1000, 5000 and 10,000, introduced in 1954, were closed again in January 1978. 500 and 1000 denomination banknotes issued under the Mahatma Gandhi series ceased to be legal tender from the midnight of 08 November 2016.
Up to what amount can RBI issue notes?
Currently, RBI issues banknotes of 10, 20, 50, 100, 200, 500, and 2000 denominations in India. If RBI wants, it can also reissue notes of 5000 and 10,000 rupees. As per Section 24 of the RBI Act, 1934 RBI is empowered to print 2, 5, 10, 20, 50, 100, 200, 500 and 2000, 5000, 10000 or such other denomination not exceeding ten thousand Right is received.
RBI cannot print one rupee or note because this right has been given to the Government of India under the Coinage Act. It bears the signature of the Finance Secretary instead of the Governor of RBI.
What are notes made of
The note you use, do you know what that note is made of? The paper currently used for printing banknotes is made using 100% cotton. Hindi is written in the middle of this note and in English at the back. Apart from this, fifteen languages appear in the language panel of the banknote.
Can there be two notes of the same number?
Many times this question also arises in the mind whether there can be similarity in the numbers of two or more banknotes. So the answer is yes. According to the RBI website, two or more banknotes may have the same serial number, but either with different inset letters, or with different years of printing, or with the signature of a different Governor of the Reserve Bank of India. An inset letter is a character printed on the number panel of a banknote. Notes can also be without any inset letter.
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