New Rs 50 note with RBI Governor Shaktikanta Das’ signature soon; here’s what will happen to old currency

By: | Updated: April 16, 2019 4:16 PM

The Reserve Bank of India (RBI) on Tuesday said that it will soon issue new Rs 50 denomination currency notes bearing the signature of Governor Shaktikanta Das.

RBI, official GDP data, Governor Shaktikanta Das, Central Statistics Office, CSO, rbi repo rate cut, rbi interest rate cut, repo rate cut by rbi, emi, rbi rate cut, home loan, auto loan, होम लोन, ऑटो लोन, ईएमआई, mpc, monetary policy meeting, लोन, interest rate on loan, sbi, bank, GDP DataThe old banknotes issued by the central bank will remain legal tender, it also said in a statement.

The Reserve Bank of India (RBI) on Tuesday said that it will soon issue new Rs 50 denomination currency notes bearing the signature of Governor Shaktikanta Das. The old banknotes issued by the central bank will remain legal tender, it also said in a statement.

“The Reserve Bank of India will shortly issue ₹ 50 denomination Banknotes in Mahatma Gandhi (New) Series bearing the signature of Shri Shaktikanta Das, Governor. The design of these notes is similar in all respects to ₹ 50 banknotes in Mahatma Gandhi (New) Series”, RBI said in a statement today.

Also read: Unemployment report brings cheer for Modi in election month; joblessness falls in March

In 2017, RBI had issued new Rs 50 and Rs 200 notes that are being used until now. The currently used Rs 50 notes are in the Mahatma Gandhi (new) series and bear the motif of ‘Hampi with Chariot’ on the reverse. Whereas the Rs 50 note is fluorescent blue in colour, the Rs 200 note has shades of purple.

On 8 November 2016, Narendra Modi government had announced the demonetisation of all Rs 500 and Rs 1000 banknotes of the Mahatma Gandhi Series. It also announced the issuance of new Rs 500 and Rs 2000 banknotes in exchange for the demonetised banknotes.

The Modi government had then said that the noteban action would restrict the shadow economy and cut down the use of illegal and counterfeit cash to fund illegal activity and terrorism.

Also read: India won’t have any extremely poor people by 2031, says Arun Jaitley

Recently The Indian Express had reported that the economy is seeing a new phenomenon described as ‘reverse flow’ of coins. It has left the central bank with a glut of as many as 900 crore coins that may be on the “verge of collapsing due to weight”, the report added.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition