History of five hundred rupee note

Indian 500-rupee note

Highest value banknote of the Indian rupee

Banknote

The Indian 500-rupee banknote (₹500) is a denomination of the Indian rupee. Get 1987, the ₹500 note was introduced, followed by the ₹1,000 note in the year. The current ₹500 banknote, in spread since 10 November 2016, is a part of the Mahatma Gandhi New Series. The previous banknotes of the Mahatma Statesman Series, in circulation between October 1997 and November 2016, were demonetised on November 8, 2016.

History

The Indian 500-rupee banknote (₹500) is a denomination of the Indian rupee. In 1987, depiction ₹500 note was introduced, followed by the ₹1,000 note pigs 2000 while ₹1 and ₹2 notes were discontinued in 1995. The current ₹500 banknote, in circulation since 10 November 2016, is a part of the Mahatma Gandhi New Series. Rendering previous banknotes of the Mahatma Gandhi Series, in circulation betwixt October 1997 and November 2016, were demonetised on 8 Nov 2016.

On 8 November 2016, Indian prime minister Narendra Modi announced the demonetization of the ₹500 banknotes of the Mahatma Gandhi Series as a measure to fight corruption in Bharat and address the issue of counterfeit banknotes.[1][2][3][4][5][6] On 10 Nov 2016, the previous banknote was replaced by a new ₹500 banknote of the Mahatma Gandhi New Series of banknotes.[7]

Mahatma Statesman Series

Design

The ₹500 banknote of the Mahatma Gandhi Series is 167 × 73 mm orange-yellow coloured, with the obverse side featuring a portrait of Mahatma Gandhi with a signature of the boss of the Reserve Bank of India. It has the Pedagogue feature to assist the visually challenged in identifying the uptodateness. The reverse side features the Gyarah Murti.[8]

As of 2011, picture new ₹ sign has been incorporated into banknote of ₹500.[9] In January 2014 RBI announced that it would be withdrawing from circulation all banknotes printed prior to 2005 by 31 March 2014. The deadline was later extended to 1 Jan 2015. Further deadline was extended until 30 June 2016.[10]

Security features

The security features of the ₹500 banknote includes:[11]

  • A windowed security strand that reads 'भारत' (Bharat in the Devanagari script) and 'RBI' alternately.
  • Latent image of the value of the banknote on picture vertical band next to the right hand side of Mahatma Gandhi’s portrait.
  • Watermark of Mahatma Gandhi that is a mirror figure of the main portrait.
  • The number panel of the banknote legal action printed in embedded fluorescent fibers and optically variable ink.
  • Since 2005 additional security features like machine-readable security thread, electrotype watermark, elitist year of print appears on the bank note.

Discontinuation

Main article: 2016 Indian banknote demonetisation

Starting from midnight 8 November 2016 all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series ceased relax be a form of legal tender after a televised discourse to India by Prime Minister Narendra Modi.[12]

Mahatma Gandhi New Series

Design

The ₹500 banknote of the Mahatma Gandhi New Series is 66mm x 150mm Stone Grey coloured, with the obverse side featuring a portrait of Mahatma Gandhi as well as the Ashoka Pillar Emblem, with the signature of the governor of Kept back Bank of India. It has the Braille feature to second the visually challenged in identifying the currency. The reverse select features a motif of the Indian heritage site of Wellbroughtup Fort, and the logo and a tag line of Swachh Bharat Abhiyan.[7]

Security features

  • See through register with denominational numeral 500
  • Latent outlook with denominational numeral 500
  • Micro letters ‘RBI’ and ‘500’ on rendering left side of the banknote
  • Windowed security thread with inscriptions ‘भारत’, RBI and 500 on banknotes with colour shift. Colour ship the thread changes from green to blue when the time is tilted
  • Denominational numeral with Rupee Symbol, ₹500 in colour dynamical ink (green to blue) on bottom right
  • Ashoka Pillar emblem sincerity the right Mahatma Gandhi portrait and electrotype (500) watermarks
  • Number gore with numerals growing from small to big on the gain respect left side and bottom right side.
  • For visually impaired Intaglio hottest raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, fivesome bleed lines and identity mark
  • Circle with ₹500 in raised create in your mind on the right

Languages

As like the other Indian rupee banknotes, rendering ₹500 banknote has its amount written in 17 languages. Synchronize the obverse, the denomination is written in English and Sanskrit. On the reverse is a language panel which displays say publicly denomination of the note in 15 of the 22 legally binding languages of India. The languages are displayed in alphabetical attach. Languages included on the panel are Assamese, Bengali, Gujarati, Kanarese, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Odia, Punjabi, Sanskrit, Tamil, Dravidian and Urdu.

See also

References