New Rs 20 notes, coins are the next big thing in Indian currency chest - All you need to know
RBI last year announced that they will issue new Rs 20 notes without specifying any features of the currency. Then later in early March 2019, the government launched a new coin in the same denomination.
Even though RBI has given a makeover to banknotes like Rs 10, Rs 50, Rs 100, Rs 200 and Rs 500 by introducing them now with current governor’s signature Shaktikanta Das, it will be still Rs 20 notes which will be keenly watched. RBI last year announced that they will issue new Rs 20 notes without specifying any features of the currency. If that was not enough to make citizens excited, then later in early March 2019, the government launched a new coin in the same denomination while giving makeovers to existing coins like Re 1, Rs 2, Rs 5 and Rs 10. New Rs 20 coin is expected to be in circulation from next month end, while many still await the new features this currency’s banknote will have. It needs to be noted that, RBI has been upgrading India’s currency chest since the time demonetisation drive has taken place back in November 2016. In fact, this black money curer, digitization booster move, has also brought in a significant change in the money we hold.
Here’s what you must know about the new Rs 20 coin and banknotes.
The newly minted Rs 20 coin is 12 sided with no serrations. The rest of the denominations would be of the round shape.
The Rs 20 coin will have the Lion Capitol of Ashoka Pillar with the legend 'Satyamev Jayate' in Hindi inscribed below, flanked on the left periphery with the word 'Bharat' in Hindi and on the right periphery with the word “INDIA” in English. At the back, the coin will have the denominational value “20” in the international numerals. The Rupee symbol shall be shown above the denominational value. The left periphery of the coin will have the grains depicting the agricultural dominance of the country. The year of minting in international numerals will be shown in the centre of the left periphery of the coin.
The radius of the coin will be of 27 mm while its weight will be 8.54 grams. The coin's outer ring will be formed of Nickel Silver (Copper: 65%, Zinc: 15%, Nickel: 20%) while the inner part will be of Nickel Brass (Copper: 75%, Zinc: 20%, Nickel: 05%).
It is now expected that the coin will be rolled out by May 31.
Coming back to new Rs 20 notes, although there are no features highlighted by RBI, however, one can expect how the note will be.
When the demonetisation drive was announced in November 2016, scrapping down old Rs 500 and Rs 1000, the entry of two new high denomination notes namely Rs 500 and Rs 2000 was a clear indication the transformation of entire currency chest. Several factors hinted at this.
First RBI introduced new Rs 200 to fill the gap between Rs 100 and Rs 500 in the month of August 2017. When Rs 200 was launched, RBI made its interesting move by giving a makeover to Rs 50, Rs 10 and latest, the Rs 100 banknotes.
There are similarities between Rs 10, Rs 50, Rs 100, Rs 200 to that of Rs 500 and Rs 2000.
Apart from color, motif, size and numeral almost everything is the same between Rs 10, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000. Some of them are:
Watch Zee Business TV Live streaming video below:
- See through register with denominational numeral
- Portrait of Mahatma Gandhi at the centre
- Micro letters ‘RBI’, ‘भारत’, ‘INDIA’ and ‘Numeral’,
- Windowed demetalised security thread with inscriptions ‘भारत’ and RBI,
- Guarantee Clause, Governor’s signature with Promise Clause and RBI emblem towards right of Mahatma Gandhi portrait,
- Ashoka Pillar emblem on the right,
- Mahatma Gandhi portrait and electrotype watermarks
- Number panel with numerals growing from small to big on the top left side and bottom right side.
- Year of printing of the note on the left
- Swachh Bharat logo with slogan
- Denominational numeral
- Language panel
Hence, one can expect Rs 20 to be on similar lines like above-mentioned banknotes. This new Rs 20 can be a reality any time this year.