Defect in the new Rs 500 notes is one of the major embarrassments for the government. Reserve Bank of India has admitted it today that there is a defect in printing new Rs 500 currency notes.
Two notes with a lot of difference is a blunder on the part of government. Is government giving fake currency to its people? A question raised by Aabshar who goes by the handle ,@ Scepticindian.
It shows government’s lackadaisical approach that within just two weeks into circulation, the two variants of the Rs 500 note which may also encourage counterfeits, identifying which one is the real one.
The RBI, in its defence, said the printing defect was due to the rush in the wake of demonetisation, and that there is nothing to panic.
RBI spokesperson said, “It’s not a variant. Such a printing deficiency can happen once in a million. It is a valid legal tender and can be freely used in transactions. But if someone does not want to use it and return it to RBI, that too can be done and we will give them full value.”