RBI to soon issue new Rs 20, Rs 50 banknotes; old currency to remain legal tender

RBI to soon issue new Rs 20, Rs 50 banknotes; old currency to remain legal tender
Reserve Bank of India (RBI) headquarters in Mumbai, Maharashtra, India. Image Source: Reuters
Written By: Tejal Yerunkar
Updated: Sun, Dec 04, 2016
05:35 pm
Mumbai , ZeeBiz WebDesk
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Reserve Bank of India (RBI) announced on Sunday that it will soon issue new banknotes of Rs 50 and Rs 20 denomination. 

"The Reserve Bank of India (RBI) 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," cited the central bank in a press release. 

ALSO READ: India abolishes larger banknotes in fight against graft, 'black money'

Also, it will issue new Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005,with numerals in ascending size in number panels, and without intaglio printing.

"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 (RBI), and the year of printing '2016' printed on the reverse of the banknote," RBI said in a separate release on Sunday.

All the banknotes in the denomination of Rs 20 and Rs 50 issued by the central bank in the past will continue to be legal tender. 

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