Ever given a thought about what will happen to those banned Rs 500 and Rs 1000 notes? These scrapped notes will now be used to recycle and make usable products. 

The National Institute of Design (NID), Ahmedabad will now develop usable products from the scrapped currency notes. The Reserve Bank of India (RBI) has allocated the projects to NID. RBI has sent over 200 kg briquettes (blocks of compressed material) of Rs 500 and Rs 1000 notes to the institute.

Now, NID will think over to use these scrapped notes creatively. To involve students in this projects, a prize money is announced for the winners if they come up with some idea to re-use these notes. A prize money of Rs 1 Lakh, Rs 75,000 and Rs 50,000 is announced for the students those who bags the prize for the best idea. This competition would be on all-India level and it will be held in the end of May.

Talking to The Times of India, An NID faculty member, Pravinsinh Solanki the coordinator of furniture and interior design course, said, "These Rs 500 and Rs 1,000 currency notes have been destroyed and they have now become scrap. The government wants us to recycle them.”

Taking into consideration the the hardwork that went inside making the notes and the man power too, government wish use these scrapped notes in a different way by recycling it. NID is planning to design the notes in such a way that it is useful for the society and inspires others to reuse.