SBI rolls out new Rs 500 notes in Bhopal. Prime Minister Narendra Modi took a major step and announced demonetisation of Rs. 500 and 1,000 currency notes with effect from midnight to curb black money on November 8, 2016.From November 10th onwards mostly all banks started to issue only Rs.2000 notes . A new Rs 500 notes was rolled out first by State Bank of India (SBI) branch in
Bhopal.Some branches like SBI Main branch in Delhi have started distribution of Rs 500 notes.
iii. The new 500-note is expected to ease pressure on banks’ cash position and improve liquidity in the market.However, 500 and 2,000 rupee notes dispensed through ATMs will be possible after recalibration of such machines as these are of different sizes.
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