The Reserve Bank of India (RBI) today admitted that there is a defect in the new Rs 500 notes. The submission from the central bank came after two variants of the new Rs 500 note surfaced and went viral on social media. RBI spokesperson said, "It's not a variant. Such a printing deficiency can happen once in a million. It is a valid legal tender and can be freely used in transactions. But if someone does not want to use it and return it to RBI, that too can be done and we will give them full value". The differences in the two sets of notes shadow of Mahatma Gandhi’s picture, placement of the national emblem, colour shade and border size are printing errors given the rush to meet the increasing demand, an official has said.