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RBI to issue new Rs 50, Rs 20 notes soon, old notes valid
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SME Times News Bureau | 05 Dec, 2016
The Reserve Bank of India on Sunday announced it will shortly issue new
Rs 50 and Rs 20 notes bearing the signature of new Governor Urjit Patel,
but existing banknotes of both denominations will continue to be legal
tender.
The year '2016' will be printed on the reverse of the banknotes, it said.
"The
Reserve Bank of India will shortly issue Rs 50 denomination banknotes
in the Mahatma Gandhi Series-2005, without inset letter in both the
number panels, bearing signature of Dr. Urjit R Patel, Governor, Reserve
Bank of India, and the year of printing '2016' printed on the reverse
of the banknote," the central bank said in a notification posted on its
website.
On the Rs 20 note, it said: "Reserve Bank of India will
shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi
Series-2005, with inset letter 'L' in both the number panels."
The
decision follows the November 8 demonetisation of high-value currency
that has caused a major cash crunch, with the supply of new Rs 500 and
Rs 2,000 notes released proving insufficient for meeting the current
demand.
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| Currency |
Import |
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US Dollar
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