It has been more than a month that the Prime Minister introduced the demonetisation of high-value currency notes of old Rs 500 and Rs 1,000. While a large section of the population, including imminent economists like Amartya Sen and Manmohan Singh, has criticised the decision, many have also supported the government’s move.
Interestingly, while people in the country are struggling to get their hands on their own hard-earned money, an Indian man living in Dubai has apparently got a Rs 10,000 note in his possession. For those who aren’t in the know, the Rs 10,000 notes were discontinued way back in 1978. Even then, the move was made to weed out black money from the system.
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Ramkumar is reportedly the founder of a Dubai-based numismatic (pertaining to coins or medals) company called Numisbing. He came to possess the rare Rs 10,000 note in 2015 from a collector in India. According to a Gulf News report, Reserve Bank of India’s data says that before the 1978 demonetisation, only 346 notes of Rs 10,000 were in circulation, of which less than 10 such notes are available today.
Apparently, the note that Ramkumar is in possession of is the only one in UAE and the Middle East. The note is reportedly now on display at the Numisbing showroom located in Al Maktoum Street’s Doha Centre. Ramkumar has been quoted to have said it was difficult to put a price tag on the note, when asked how much is it’s worth from a collector’s point of view.
— Nataraj VR (@vrnataraj) 9 November 2016
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