Taking the nation by surprise, Prime Minister Narendra Modi on November 8 announced demonetisation of Rs 1000 and Rs 500 notes, making these notes invalid in a major assault on black money, fake currency and corruption. In his first televised address to the nation, Modi said people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30.

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In his 40-minute address, first in Hindi and later in English, the Prime Minister said the notes of Rs 500 and Rs 1000 "will not be legal tender from midnight tonight" and these will be "just worthless piece of paper." However, he said that all notes in lower denomination of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins will continue to be valid. He also announced that new notes of Rs 2000 and Rs 500 will be introduced.

Here are the important features of the new note: 

See through register with denominational number 2000 can be seen when the note is held against light

Latent image with denominational number 2000 which can be seen when the banknote is held at a 45 degree angle at the eye level

Denominational numeral 2000 in Devnagari

Portrait of Mahatma Gandhi in the centre

Micro letters 'RBI' and '2000'

Colour shift windowed security thread with inscription 'Bharat' (in Devnagari), RBI and 2000. Colour of the thread changes from green to blue when the note is tilted.

Guarantee Clause, Governor's signature with Promise Clause and RBI emblem towards right

Mahatma Gandhi portrait and electrotype (2000) watermarks

Number panel with numericals growing from small to big on the top left side and bottom right side

Denominational numeral with Rupee Symbol, ~2000 in colour charging ink (green to blue) on bottom right

Ashoka Pillar emblem on the right

For visually impaired:

Intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, bleed lines and identification mark

Horizontal rectangle with ~2000

Seven angular bleed lines on left and right side in raised print

Reverse:

Year of printing of the note

Swachh Bharat logo with slogan

Language panel towards the centre

Motif of Mangalyaan - reflecting country's first venture in the interplanetary space

(Source: RBI)