Indian 500-rupee note

Last updated

Five hundred rupees
(India)
Value500 (approx. $6.75)
Width150 mm
Height66 mm
Years of printing10 November 2016 – present
Obverse
India new 500 INR, MG series, 2016, obverse.jpg
Design Mahatma Gandhi
Designer Reserve Bank of India
Design date2016
Reverse
India new 500 INR, MG series, 2016, reverse.jpg
Design Red Fort
Designer Reserve Bank of India
Design date2016

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

Contents

History

The Indian 500-rupee banknote (₹500) is a denomination of the Indian rupee. In 1987, the ₹500 note was introduced, followed by the ₹1,000 note in 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. The previous banknotes of the Mahatma Gandhi Series, in circulation between October 1997 and November 2016, were demonetised on 8 November 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 India and address the issue of counterfeit banknotes. [1] [2] [3] [4] [5] [6] On 10 November 2016, the previous banknote was replaced by a new 500 banknote of the Mahatma Gandhi New Series of banknotes. [7]

Mahatma Gandhi Series

Obverse of the Rs500 banknote between October 1997 - November 2016 India 500 INR, MG series, 2014, obverse.jpg
Obverse of the 500 banknote between October 1997 – November 2016
Reverse of the Rs500 banknote between October 1997 - November 2016 India 500 INR, MG series, 2014, reverse.jpg
Reverse of the 500 banknote between October 1997 – November 2016

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 governor of the Reserve Bank of India. It has the Braille feature to assist the visually challenged in identifying the currency. The reverse side features the Gyarah Murti. [8]

As of 2011, the 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 January 2015. Further deadline was extended until 30 June 2016. [10]

Security features

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

Discontinuation

Starting from midnight 8 November 2016 all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series ceased to be a form of legal tender after a televised address 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 Reserve Bank of India. It has the Braille feature to assist the visually challenged in identifying the currency. The reverse side features a motif of the Indian heritage site of Red Fort, and the logo and a tag line of Swachh Bharat Abhiyan. [7]

Security features

Languages

As like the other Indian rupee banknotes, the 500 banknote has its amount written in 17 languages. On the obverse, the denomination is written in English and Hindi. On the reverse is a language panel which displays the denomination of the note in 15 of the 22 official languages of India. The languages are displayed in alphabetical order. Languages included on the panel are Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Odia, Punjabi, Sanskrit, Tamil, Telugu and Urdu.

Denominations in central level official languages (At below either ends)
Language500
English Five hundred rupees
Hindi पाँच सौ रुपये
Denominations in 15 state level/other official languages (As seen on the language panel)
Assamese পাঁচশ টকা
Bengali পাঁচশ টাকা
Gujarati પાંચ સો રૂપિયા
Kannada ಐದು ನೂರು ರೂಪಾಯಿಗಳು
Kashmiri پانٛژھ ہَتھ رۄپیہِ
Konkani पाचशें रुपया
Malayalam അഞ്ഞൂറു രൂപ
Marathi पाचशे रुपये
Nepali पाँच सय रुपियाँ
Odia ପାଞ୍ଚ ଶତ ଟଙ୍କା
Punjabi ਪੰਜ ਸੌ ਰੁਪਏ
Sanskrit पञ्चशतं रूप्यकाणि
Tamil ஐந்நூறு ரூபாய்
Telugu ఐదువందల రూపాయలు
Urdu پانچ سو روپیے

See also

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References

  1. "Rs 500 and 1000 currency demonitised: PM Modi". The Indian Express. 8 November 2016. Retrieved 8 November 2016.
  2. "PM Modi declares Rs 500 and 1000 currency notes to be void from midnight - The Economic Times". The Economic Times. Retrieved 8 November 2016.
  3. "Rs. 500, Rs. 1000 currency notes to be out of circulation from midnight". The Hindu. 8 November 2016. ISSN   0971-751X . Retrieved 8 November 2016.
  4. "India's Biggest Crackdown On Corruption: Foreign Media On PM Modi's Move". NDTV.com. Retrieved 8 November 2016.
  5. "মোদীর ঘোষণা, মাঝরাত থেকেই নিষিদ্ধ ৫০০ ও ১০০০ টাকার নোট -Eisamay". Eisamay. 8 November 2016. Retrieved 8 November 2016.
  6. সংস্থা, সংবাদ. "বাতিল ৫০০ ও ১০০০ টাকার নোট, ঘোষণা নরেন্দ্র মোদীর". anandabazar.com. Retrieved 8 November 2016.
  7. 1 2 Alpana Killawala (8 November 2016). "Issue of ₹500 Banknotes (Press Release)" (PDF) (Press release). Reserve Bank of India . Retrieved 8 November 2016.
  8. "Iconic sculpture in the heart of Delhi". Azadi Ka Amrit Mahotsav. Ministry of Culture, Government of India. Retrieved 19 July 2022.
  9. "Issue of ₹500 Banknotes with incorporation of Rupee symbol". RBI. Retrieved 26 December 2011.
  10. "Withdrawal of Currencies Issued Prior to 2005". Press Information Bureau. 25 July 2014. Retrieved 25 July 2014.
  11. "Are there any special features in the banknotes of Mahatma Gandhi series- 1996?". Your Guide to Money Matters. Reserve Bank of India. Archived from the original on 12 January 2012. Retrieved 11 January 2012.
  12. Spotlight (8 November 2016), [English]PM Modi's Surgical Strike on Corruption | 500,1000 Rupee Notes Not Legal Tender Anymore , retrieved 8 November 2016