Indian 1000-rupee note

The Indian 1000-rupee banknote (₹1000) was a denomination of the Indian rupee. It was first introduced by the Reserve Bank of India in 1938 under British rule and subsequently demonetized in 1946. Post-independence, the denomination was re-introduced in 1954. In January 1978, all high-denomination banknotes of ₹1000, ₹5,000, and ₹10,000 were demonetized in order to curb unaccounted cash money.[1][2]

One thousand rupees
(India)
Value₹1000
Width177 mm
Height73 mm
Security featuresSecurity thread, latent image, micro-lettering, intaglio print, fluorescent ink, optically variable ink, watermark, and see through registration device.
Material usedspecial variety of cotton, linen, abaca and fibre
Years of printingNovember 2000 – November 2016
Obverse
DesignMahatma Gandhi
Design date2000
Reverse
DesignEconomy of India
Design date2000

In order to contain the volume of banknotes in circulation due to inflation, the ₹1000 banknote was again re-introduced in November 2000, under the government of Atal Bihari Vajpayee, as a part of the Mahatma Gandhi Series of banknotes; these were demonetized on 8 November 2016 by the Prime Minister of India Narendra Modi, with the claimed reasons of preventing the issue of counterfeit currency and to fight corruption and black money in India.

Mahatma Gandhi New Series

On 10 November 2016, the then Economic Affairs Secretary Shaktikanta Das announced a new ₹1000 banknote would be released in the Mahatma Gandhi New Series in the coming months.[3]

Mahatma Gandhi Series

Design

The ₹1000 banknote of the Mahatma Gandhi Series was 177 × 73 mm Amber-red coloured, with the obverse side featuring a portrait of Mahatma Gandhi with a signature of the governor of Reserve Bank of India. It had a Braille feature to assist the visually challenged in identifying the currency. The reverse side featured the motif of an oil rig, a satellite and a steel foundry, all together featuring the Economy of India.

As of 2011, the new ₹ sign had been incorporated into banknotes of ₹1000.[4] In January 2014, RBI announced that it would be withdrawing from circulation all banknotes printed prior to 2005 by 31 March 2014. The deadline was later extended to 1 January 2015, and then again to 30 June 2016.[5] Denomination of ₹1,000 notes cost was ₹3.54.

Security features

The security features of the ₹1000 banknote included:[6]

  • A windowed security thread that read 'भारत' (Bharat in the Devanagari script) and 'RBI' alternately.
  • Latent image of the value of the banknote on the vertical band next to the right hand side of Mahatma Gandhi’s portrait.
  • Watermark of Mahatma Gandhi that is a mirror-image of the main portrait.
  • The number panel of the banknote was printed in embedded fluorescent fibres and optically variable ink.
  • Since 2005, additional security features (including machine-readable security thread, electrotype watermark, and year of print) appear on the bank note.

Discontinuation
Main article: 2016 Indian banknote demonetisation

On 8 November 2016, Prime Minister Narendra Modi announced that "Starting from midnight 8th November 2016 all ₹1000 banknotes of the Mahatma Gandhi Series will not be accepted as a form of legal tender", although new ₹500 and ₹2000 banknotes of the new Mahatma Gandhi New Series were unveiled.[7]

Languages

Like the other Indian rupee banknotes, the ₹1000 banknote had its value written in 17 languages. On the obverse, the denomination was written in English and Hindi. On the reverse is a language panel which displayed the denomination of the note in 15 of the 22 official languages of India, displayed in alphabetical order. Languages included on the panel were Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Odia, Punjabi, Sanskrit, Tamil, Telugu and Urdu.

Denominations in central level official languages (At below either ends)
Language ₹1000
EnglishOne thousand rupees
Hindiएक हज़ार रुपये
Denominations in 15 state level/other official languages (As seen on the language panel)
Assameseএহেজাৰ টকা
Bengaliএক হাজার টাকা
Gujaratiએક હજાર રૂપિયા
Kannadaಒಂದು ಸಾವಿರ ರುಪಾಯಿಗಳು
Kashmiriساس رۄپیہِ
Konkaniएक हजार रुपया
Malayalamആയിരം രൂപ
Marathiएक हजार रुपये
Nepaliएक हजार रुपियाँ
Odiaଏକ ହଜାର ଟଙ୍କା
Punjabiਇਕ ਹਜ਼ਾਰ ਰੁਪਏ
Sanskritसहस्रं रूप्यकाणि
Tamilஆயிரம் ரூபாய்
Teluguవెయ్యి రూపాయలు
Urduایک ہزار روپیے

References
  1. "Demonetization of higher denomination banknotes". Your Guide to Money Matters. Reserve Bank of India. Archived from the original on 12 January 2012. Retrieved 11 January 2012.
  2. "India Paper Money A Retrospect". Republic India Issues. Reserve Bank of India. Retrieved 11 January 2012.
  3. "RBI to issue ₹1,000, ₹100, ₹50 with new features, design in coming months". The Hindu Business Line. Retrieved 10 November 2016.
  4. "Issue of ₹1000 Banknotes with incorporation of Rupee symbol". RBI. Retrieved 18 November 2011.
  5. "Withdrawal of Currencies Issued Prior to 2005". Press Information Bureau. 25 July 2014. Retrieved 25 July 2014.
  6. "Are there any special features in the banknotes of Mahatma Gandhi series- 1996?". Your Guide to Money Matters. Reserve Bank of India. Archived from the original on 12 January 2012. Retrieved 11 January 2012.
  7. Spotlight (8 November 2016), [English]PM Modi's Surgical Strike on Corruption | 500,1000 Rupee Notes Not Legal Tender Anymore, retrieved 8 November 2016
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.