The Reserve Bank of India have confirmed that the new currency notes of Rs. 2000 and Rs. 500 are very difficult to copy during the bank’s monetary policy review. The RBI led by Urjit Patel also ensured that all the fake notes that are being are photo copies and not fake notes. Some decisions taken during RBI’s monetary review are surprising ones like the hawkish stance towards an easing environment which was expected from the Narendra Modi-led government after the trouble that people had to go through post demonetisation move.
The new Rs. 2000 and Rs. 500 notes have many unique features like:
1. See through register in denomination numeral
2. Latent image of the denomination numeral
3. Denomination numeral in Devnagari
4. Orientation & relative position of Mahatma Gandhi portrait changed
5. Windowed security thread changes colour changes from green to blue when note is held
6. Guarantee clause, Governor’s signature with promise clause and RBI emblem shifted towards the right.
7. Portrait and electrotype watermarks
8. Number panel with numerals growing from small to big on the top left side and bottom right side
9. Denomination in numerals with Rupee symbol in colour changing ink (green to blue) on bottom right
10. Ashoka Pillar emblem on the right.
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Despite so many talks about the loan rates to be reduced for both individuals and businesses, the bank decided to keep the repo rate at 6.25 percent for the second consecutive year and have changed its policy from ‘accommodative’ to ‘neutral’. The reason given behind this by RBI was to keep an eye on inflation trends and it also indicated that the demonetisation move has led to slowed down the economic growth of the country.