Rs. 2000 notes sans Mahatma image land in farmer's hands

[prasad1]

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A farmer in Madhya Pradesh’s Sheopur district was shocked to receive Rs. 2,000 currency without the image of Mahatma Gandhi from a public sector bank branch.Laxman Meena from Bichchhugawadi village reportedly received three Rs. 2,000 notes when he withdrew money from the bank at Baroda town in Sheopur.
“I was given three notes of Rs. 2,000 on withdrawal from my account on Tuesday [January 3]. I later found that there was no image of Mahatma Gandhi on those notes,” Meena told PTI over the phone on Thursday.
“I was in the market when I discovered that there was no picture of Mahatma Gandhi on the notes. I then went to the bank and and showed it to the manager,” he said.
“Initially, the manger told me that I must have examined the notes on receiving them. Later, he told me to deposit the notes and get them replaced,” the farmer said.
The bank manager also clarified to him that the currency was genuine and there might have been a printing error.
Meanwhile, the in charge bank manager told PTI over the phone that he had sent the information to the lead bank manager of the district.
“I have nothing more to say. I have already submitted the information in this regard to the lead bank manager,” he said.

 

[biswa]

Well finally we may be in a post MG era.

 

[V.Balasubramani]

He will be back soon…..Meanwhile let us try to spread smile instead of MG….

Here's why the Rs 2,000 notes without Mahatma Gandhi photo are not fake

Madhya Pradesh farmers recently withdrew money from an SBI ATM to find that some Rs 2,000 notes had no photo of Mahatma Gandhi.

Bank officials have since assured them that these notes are not fake and are actually legal tender. But one would be better of understanding the consternation of the farmers when they first saw the notes, given the several instances of fake Rs 2,000 notes — actually poor photocopies of the original, with none of the security features — surfacing since Prime Minister Narendra Modi announced demonetisation on November 8.

So how come these are not fake or counterfeit notes? The simple answer is: They came from the Reserve Bank of India (RBI), and that there was a printing mistake. SBI officer RK Jain confirmed to ANI as much, and also said it is now being probed how such a mistake occurred.

Then again, these mistakes are not all that rare. In fact, error coins and error notes — currency that have printing, embossing or other kinds of mistakes on them — have a steady and quite legal market of their own, Karnataka Numismatic Society vice-president Srinivas RS told International Business Times, India. These coins and notes are hot property for collectors and are sometimes sold at a premium, he added.

Error currencies and collectors

"There are innumerable instances of error coins and notes. Sometimes, parts or the entire side of a printed note go missing. Sometimes, the obverse and reverse sides of coins do not align," Srinivas said, adding: "There can also be instances of double-printing."

And apparently, some people make a good earning out of them! Srinivas told IBTimes India: "Some people often pick up bags of Re 1 or Rs 2 coins from the RBI and look for error coins in them. They usually find three-four of them in bags of 2,000-2,500 coins. It then is a matter of trading between the buyer and the seller, where a single error coin can fetch up to Rs 200."

Read more at: http://www.ibtimes.co.in/heres-why-rs-2000-notes-without-mahatma-gandhi-photo-are-not-fake-711073