For a majority of the Indian population, the term 'demonetisation', was a rarely-used word in the lexicon. Till 8 November, when Prime Minister Narendra Modi announced a ban on Rs 500 and Rs 1,000 currency notes, over night. Since then, the enterprising ones among us have probably been googling interesting facts about demonetisation... Perhaps while standing in ATM queues.
No wonder then that now we are well aware of the fact that demonetisation has in fact been implemented earlier too. In 1978, to be precise, when a ban was enforced on Rs 10,000 notes.
Interestingly, there were only 346 notes of Rs 10,000 in circulation at that time. Of which, according to Gulf News report, only 10 of them are available today. One of them is in Ramkumar's possession.
Ramkumar is reportedly the founder of a Dubai-based numismatic (pertaining to coins or medals) company called Numisbing.
This is the Rs 10,000 note.
Apparently, the note that Ramkumar is in possession of, which was given to him by a collector in India, is the only one in UAE and the Middle East.
The note, as per reports, is now on display at the Numisbing showroom located in Al Maktoum Street's Doha Centre. According to The Indian Express, Ramkumar was quoted saying it was difficult to put a price tag on the note, when asked how much is it worth from a collector's point of view.
Maybe that's what will be said about the till-8 Nov-used-Rs 500-notes at a later date?