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RBI To Issue New Rs. 20/50 Notes, Old Bills To Continue

NDTV Profit logo NDTV Profit 05-12-2016
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New Delhi: The Reserve Bank on Sunday said it will issue new currency notes of Rs. 20 and Rs. 50 denominations with numerals in ascending size in the number panels and without intaglio printing.

The old notes of Rs. 20 and Rs. 50 will remain legal tender.

These new notes come against the backdrop of government last month scrapping Rs. 500/1000 currency notes to crack down on black money.

"The 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, 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," RBI said in a statement.

The design and security features of these banknotes will be similar to the banknotes of Rs. 20 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005, it said.

RBI also said that all the banknotes in the denomination of Rs. 20 issued by the Bank in the past will continue to be legal tender. 



About Rs. 50 notes RBI said, "The Reserve Bank 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."

It said that the design and security features of these banknotes will be similar to the banknotes of Rs. 50 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005.

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All the banknotes in the denomination of Rs. 50 issued by the Bank in the past will continue to be legal tender, it added.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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