The new INR2,000 note, which has been printed in 15 languages, reads “do bazaar rupye” in Urdu instead of 'do hazaar rupye,' according to Chennai-based Urdu scholars.
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Indian Prime Minister Narendra Modi on Tuesday announced that 500 and 1,000 rupee banknotes would be withdrawn from the financial system at midnight, saying it was part of a crackdown on rampant corruption.
But the maximum value currency of INR2,000 denomination has a spelling error, according to an Urdu scholar and chartered accountant, Mohamed Khalilullah. "It has been printed wrongly. When there is a lot of confusion in the country now, whether the wrongly printed notes are valid or legal tender is to be determined," Khalilullah said.
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While 'hazaar' means thousand, 'bazaar' means market. Mohamed Khalilullah also noted that the Hindi phrase was not correct either, as it has been printed as 'dhon hazaar rupye', instead of 'dho hazaar rupye.'
Long queues formed outside banks in India on Thursday as they reopened for the first time since the government’s shock decision to withdraw the two largest denomination notes from circulation. Some banks in the capital New Delhi had received the new INR2,000 bill and a number of ATMs were working again, two days after Prime Minister Narendra Modi announced the 500 and 1,000 rupee notes would no longer be legal tender in a blitz against tax evasion and corruption.
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Analysts largely welcomed the decision, saying that while consumer spending will likely dip in the short term as the new notes slowly make their way into circulation, in the long run the move will boost GDP.
This article originally appeared on Times of India.
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