1. RBI to put into circulation Re 1 denomination currency notes soon

RBI to put into circulation Re 1 denomination currency notes soon

The Re 1 notes have been printed by the Government of India, the central bank revealed. These currency notes will be legal tender as provided in Coinage Act 2011. The circulation of these notes will in no way affect the fate of the previous currency in the same denomination.

By: | New Delhi | Updated: May 30, 2017 6:05 PM
Reserve Bank of India, RBI, circulation, currency notes, Re 1 denomination, Re 1, Government of India, legal tender, Coinage Act 2011 The Reserve Bank of India (RBI) will soon put into circulation currency notes in Re 1 denomination. (Source: PTI)

The Reserve Bank of India (RBI) will soon put into circulation currency notes in Re 1 denomination, it was revealed today. The Re 1 notes have been printed by the Government of India, the central bank revealed. These currency notes will be legal tender as provided in Coinage Act 2011. The circulation of these notes will in no way affect the fate of the previous currency in the same denomination. In fact, the existing currency notes in this denomination in circulation will continue to be legal tender.

RBI statement revealed that the dimensions and paper composition of one rupee currency note as indicated in the Notification No G.S.R. 516(E) dated May 25, 2017 by the Ministry of Finance, Department of Economic Affairs, published in the Gazette of India–Extraordinary-Part –II-Section 3-Sub-section (i), No. 417 dated May 25, 2017 will be:
1. Denomination of Note: One Rupee Currency Note
2. Shape and Size: Rectangular 9.7 x 6.3 cm
3. Paper Composition: a) 100 per cent (Cotton) Rag Content
b) Weight of Paper:- 90 GSM (Grams per Square Meter)
c) Thickness of Paper:- 110 microns
Multi tonal Watermarks :-
(i) Ashoka Pillar in the window without words ‘सत्‍यमेव जयते’
(ii) Hidden Numeral ‘1’ in the centre
(iii) Hidden Word ‘भारत’ vertically arranged on right hand side.

According to the statement, design on the obverse side contains two words ‘भारत सरकार’. This appears just above the words ‘Government of India’ that has the signature of Shaktikanta Das, Secretary, Ministry of finance. This is bilingual. Replica of new rupee one coin with the symbol of 2017 issued with ‘सत्‍यमेव जयते’ and capital insert letter ‘L’ in numbering panel is also there. The currency note numbering will be in black at right-hand bottom portion in ascending size of numerals from left to right, while the first three alphanumeric characters (prefix) remain constant in size.

On the reverse side, the currency contains the words ‘भारत सरकार’ above the words “Government of India” with the year 2017 on the representation of One Rupee coin with symbol having floral design. The surrounding design consists of the picture of ‘Sagar Samrat’ the oil exploration platform and with the authentic rendering of value in fifteen Indian languages in language panel with the year figure shown on the centre bottom in international number.

As far as the colour scheme is concerned, it is predominantly pink green on the obverse and reverse in combination with others.

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