The Reserve bank of India will soon issue new Rs 20 and Rs 50 banknotes in the Mahatma Gandhi series-2005. Prime Minister Narendra Modi had announced on November 8 to demonestise Rs 500 and Rs 1,000 currency notes. It was followed by launch of new Rs 500 currency notes and introduction of a new denomination of Rs 2,000 by RBI Governor Urjit Patel and secretary of the Department of Economiuc Affairs Shaktikanta Das on the same day. Now 25 days after the decision, it announced today the issuance of new notes of two lower denomination. Meanwhile, giving a relief to the people, the bank stated that all the banknotes in the above mentioned denomination issued by the Bank in the past will continue to be legal tender.
According to the RBI guidelines, the new Rs 20 notes will be issued with inset letter ‘L’ in both the number panels while the new banknotes of Rs 50 denomination will be without inset letter in both the number panels. Besides, the new notes will have signature of Urjit Patel and the year of printing ‘2016’ printed on the reverse of the banknote. The bank also stated that the design and security features of these banknotes will be similar to the earlier banknotes with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series.
It may be mentioned here that the new Rs 500 currency notes were issued in a complete new ‘avatar’ from colour to size and to image on its reverse. The size of the new banknote is 63mm x 150mm and the colour is stone grey. It also replaced the image of Dandi March from an image of the Red Fort in Delhi on the reverse. However, the new banknotes of the two low-value currency notes will be same.