Not only Rs 10, RBI may also revamp Rs 50 note
At present, India had small denomination notes of Rs 1, Rs 2, Rs 5, Rs 10, Rs 20, old Rs 50, Rs 100, Rs 200 and high denomination notes of Rs 500 and Rs 2000.
It has been nearly four months since RBI revamped Rs 50 denomination notes, and the government is reportedly not happy with the feedback as it is not friendly to visually impaired.
A senior Finance Ministry official told Business Standard that the new notes and coins usually have distinguishable identification features for the convenience of the visually-impaired. But the new Rs 50 series notes do not have any such feature, except for its distinguishable size, he added.
The Centre may reportedly cite this note in Delhi High Court when the court on January 31 will hear the RBI and the Ministry's response to a public interest litigation (PIL) seeking withdrawal of Rs 50 notes.
It is, therefore, expected that RBI may issue new Rs 50 denomination notes with added features.
RBI on August 18, introduced new Rs 50 notes with a motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage. The base colour of the note is Fluorescent Blue.
The salient features of the note as listed by RBI are as follows:
- See through register with denominational numeral 50,
- Denominational numeral ५० in Devnagari,
- Portrait of Mahatma Gandhi at the centre,
- Micro letters ‘RBI’, ‘भारत’, ‘INDIA’ and ‘50’,
- 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 (50) 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,
- Language panel,
- Motif of Hampi with Chariot,
- Denominational numeral ५० in Devnagari.
While new Rs 50 note is not the only lower denomination that has been expected for revamp, there are reports stating that RBI may also introduce new Rs 10 notes with chocolate brown colour under Mahatma Gandhi series.
Around one billion pieces of the new note have reportedly been printed by the RBI.
The design of Rs 10 note was last changed in 2005, but the new design has reportedly been approved by the government last week.
At present, India had small denomination currency notes of Rs 1, Rs 2, Rs 5, Rs 10, Rs 20, old Rs 50, Rs 100, Rs 200 and high denomination notes of Rs 500 and Rs 2000.