RBI launches Rs. 500 currency notes in Delhi, Bhopal

New Delhi: In order to provide relief in the currency drought, the Reserve Bank of India on Sunday evening introduced new series of Rs. 500 notes in Delhi and Bhopal.

"We need lower denomination notes for purchasing essential articles to ensure flexible payments and for this purpose the introduction of Rs. 500 notes and their distribution amongst the people was essential," said State Bank of India (SBI) Chief General Manager, Delhi, Alok Choudhary.

The new Rs. 2,000 currency notes, however, were introduced earlier but payment at markets was not possible due to the lack of lower currency notes.

Meanwhile, RBI said that people need not to get panic as enough cash of lower currency is available in banks.

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