As soon as people got their hands on the new notes, a lot of them started pointing out an apparent typo in it and circulated images on social media.
On November 8, it was announced that all ₹500 and ₹1,000 notes would be considered illegal currency in India, and that a new ₹2,000 note was being released by the RBI on November 10.
According to people, the Hindi word “do” (two) had been misspelt as “don”. The “typo” was forwarded far and wide, including on Facebook, Twitter and WhatsApp.
The two instances of “don” on the note are just the number two written in Konkani and Marathi, alongside multiple other regional Indian languages.
Since yesterday people have been thronging banks amid concerns over exchanging and depositing the scrapped high denomination currency.
People can deposit old ₹ 500 and ₹ 1,000 notes in their accounts till December 30, 2016, without any limit.
Restrictions have been imposed on withdrawal limit and people can withdraw up to ₹ 10,000 per day or ₹ 20,000 per week. This limit will be reviewed after few days.
Besides, old notes up to ₹ 4,000 can be exchanged at any bank or post office till November 24, 2016, by showing photo ID proof.
ATMs can be used to withdraw up to ₹ 2,000 per day per card till November 18 and ₹ 4,000 from Nov 19 onwards.
This limit too will be reviewed subsequently. The ministry also advised people to make payments using cheques, demand drafts, debit or credit cards and electronic fund transfers and there is no restriction on such transactions.