Not just 500 and 1,000! The government has already scrapped this note too –

: The Reserve Bank of India has the responsibility of printing new notes and running them in India. In such a situation, at present in our country starting from one taka coin to 2000 taka notes are in circulation. However, let us inform in this context that on November 8, 2016, the government announced the cancellation of the then 500 and 1,000 rupee notes in the country.

That is, the old Rs 500 and Rs 1,000 notes were scrapped after that announcement. However, the government subsequently printed a new note of Rs 500, but the Rs 1,000 note was not brought back. Meanwhile, the Supreme Court has recently given a verdict. Where it was said that the demonetisation decision was correct.

It should be noted that even earlier the incident of cancelation of conventional notes has happened in our country. Basically, earlier there was a note that was demonetized twice in total. But not many people know about that note. Basically, the note we are talking about was first printed in 1938. But its journey did not last long. It was closed in just 9 years.

However, the note was later withdrawn once again. Meanwhile, when these notes came back into the market, India was an independent country and the year was 1954. The second time the note was in circulation for a longer time. Then it was canceled again. This note was of 10 thousand rupees.

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It should be noted that currently, notes of 10, 20, 50, 100, 200, 500 and 2,000 rupees are in circulation in the country. Also, as per Section 24 of the RBI Act, 1934, RBI has the right to issue notes of Rs 2, 5, 10, 20, 50, 100, 200, 500 and 2000, 5000 and 10000 Also, right to print other such denomination notes not exceeding ten thousand rupees.

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