RBI: New Currency notes of Rs. 500 in circulation from today (19th December)
Posted on: 19/Dec/2016 4:12:48 PM
The Reserve Bank of India has announced that the new currency notes of Rs. 500 denomination will be distributed by the banks from today (Monday, 19th December).
A brief on the press release by RBI regarding this:
For the first time, the new currency notes of Rs. 500 denomination with star mark are being circulated in the market. The bundles containing 100 notes of the new Rs. 500 notes will not be in serial order. Similar bundles of denominations of notes of Rs. 10. Rs. 20, Rs. 50, and Rs. 100 are already in circulation.
Meanwhile, the banks are considering whether to relax the restriction of the weekly maximum of Rs. 24000.
The new Rs. 500 notes are set to be distributed from today (Monday, 19th December).
As there is a severe shortage of printed notes, the banks are not in a position to cater to the customers fully.
However, as its expected that the new Rs. 2000 notes and new Rs. 500 notes are to be released in circulation before the end of next week, the current restriction of maximum Rs. 24000 may be relaxed.
