1. Key takeaways on Urjit Patel announcement after PM Modi speech: No breach of security; DEA Secy says dealing in Rs 500, Rs 1000 notes will be at own risk

Key takeaways on Urjit Patel announcement after PM Modi speech: No breach of security; DEA Secy says dealing in Rs 500, Rs 1000 notes will be at own risk

Urjit Patel Describes: Economic Affairs Secretary, Shaktikanta Das unveiled the new Rs. 500 banknote. Prior to Patel and Das, PM Narendra Modi, in an explosive announcement, declared Rs. 500 and Rs. 1000 notes illegal.

By: | New Delhi | Updated: November 8, 2016 10:10 PM
rbi governor urjit patel rs 500 notes, rs 1000 notes, rs 1000 notes rbi, rbi notes, shaktikanta das, shaktikanta das rs 5000 and 1000 notes, rs 5000 and 1000 notes, pm modi rbi governor Urjit Patel announcement on Rs 500 and Rs 1000 notes: There has been no breach of any of the security features but for public the looks of fake Indian currency note is similar to genuine. (Reuters)

Addressing media after discontinuation of Rs. 500 and Rs. 1000 note, Reserve Bank Of India Governor Urjit Patel on Tuesday said that RBI was concerned about growing menace of fake Indian currency notes. Economic Affairs Secretary, Shahktikanta Das unveiled the new Rs. 500 banknote. Prior to Patel and Das, PM Narendra Modi, in an explosive announcement,  declared Rs. 500 and Rs. 1000 notes illegal.

Here are the highlights of RBI Governor Urijit Patel and Economic Affairs Secy Shaktikanta Das’ address:

1) Economic Affairs secy Shaktikanta Das shows new Rs 500 note and Rs 2000 note, to be known as Mahatma Gandhi new series of bank notes

2)There has been no breach of any of the security features but for public the looks of fake Indian currency note is similar to genuine: RBI Governor

3) We have increased our production and trying to provide new currency notes as soon as possible: RBI Governor Urjit Patel

4) RBI has been concerned about growing menace of fake Indian currency notes which has been increasing in numbers: RBI Governor Urjit Patel.

5)RBI will release new currency notes with new features,designs and dimensions from 10 November onwards: Shaktikanta Das

6)Other denomination currency notes will be printed in due course: Shaktikanta Das, Secretary Economic Affairs

7)If someone is receiving Rs 1000 & Rs 500 notes after tonight, he is doing it at his own risk: Shaktikanta Das

8) This is necessary in medium & long term interest of our economy, it will help in maintaining financial & economic integrity: Shaktikanta Das

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