Know Your Currency: In-Depth Look at the Rs.500 Bank Note

Introduction

The Rs. 500 banknote is one of the most commonly used denominations in India and plays a vital role in everyday transactions, being the highest-value currency note in circulation at present. Let’s take an in-depth look at its history, design, security features, and what makes it unique in the Indian currency landscape.

Historical Background

The ₹500 note was first introduced in 1987 by the Reserve Bank of India (RBI) to facilitate higher-value transactions. The earlier series continued until 2016 when Prime Minister Narendra Modi announced the demonetization of old ₹500 notes to combat counterfeiting and black money. Just days after, on 10 November 2016, a brand new ₹500 note, as part of the Mahatma Gandhi New Series, was issued and remains in circulation today.

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Design and Features

Obverse (Front)

• Portrait of Mahatma Gandhi: Centered, as with other notes in the Mahatma Gandhi New Series.
• See-Through Register: The number 500 is visible when the note is held up to the light.
• Latent Image: The denomination appears when the note is tilted.
• Numeral 500 in Devanagari script.
• Color Shift Security Thread: The thread changes color from green to blue upon tilting.
• RBI Governor’s Signature, Guarantee Clause, and RBI Emblem on the right side.
• Ashoka Pillar Emblem positioned in a prominent spot.
• Raised Features for the Visually Impaired: Includes a raised portrait of Mahatma Gandhi, five angular bleed lines on both sides, the Ashoka Pillar, and identification marks.
• Year of Printing: Indicates the year the note was printed.
• Motif of Red Fort: Featuring the Indian national flag, symbolizing India’s cultural heritage.
• Swachh Bharat Logo and Slogan: Reinforcing the national cleanliness mission.
• Language Panel: Displays the denomination in 15 of India’s 22 official languages (including Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Odia, Punjabi, Sanskrit, Tamil, Telugu, and Urdu).

Reverse (Back)

Security Features

Since currency counterfeiting poses a continuous challenge, the new ₹500 note comes equipped with advanced security measures:

• Portrait and Electrotype Watermark: A portrait of Mahatma Gandhi and an electrotype numeral “500” appear clearly when held against light.
• Windowed Security Thread: Changes color from green to blue when the note is tilted.
• Optically Variable Ink: The numeral 500 changes from green to blue when tilted.
• Micro-lettering: The note includes micro-lettering of “RBI” and “500”.
• Intaglio Printing: Raised printing for specific design elements, aiding visually impaired users.
• Size: The current ₹500 note measures 66mm x 150mm, making it slightly smaller than the old series notes.
• Colour: Stone Grey is the base color for the note, giving it a distinctive appearance compared to other denominations.
• Legal Tender: The ₹500 note is legal tender for all monetary transactions across India. Notes in poor or mutilated condition may still be exchanged at banks under RBI’s Note Refund Rules.
• Promissory Clause: Each note carries the RBI’s promise to pay the bearer the designated amount.

Dimensions and Colour

Legal and Practical Notes

Conclusion

The Rupees 500 INR banknote stands out not only for its utility in daily life but also for its comprehensive security features, contemporary design, and enduring relevance in the Indian economy. Its evolution reflects India’s efforts to upgrade currency standards and curb financial malpractice, making it an essential part of every Indian’s wallet.

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