Is it time to get over classic red-orange coloured Rs 20 note? Maybe. The Reserve Bank of India (RBI) is set to introduce a new Rs 20 currency note with additional features
Is it time to get over classic red-orange coloured Rs 20 note? Maybe. The Reserve Bank of India (RBI) is set to introduce a new Rs 20 currency note with additional features, news agency PTI reported. According to a document of the RBI, it will soon introduce the new Rs 20 currency note.
The central bank has already issued new-looking currency note in the denomination of Rs 10, Rs 50, Rs 100, and Rs 500, besides introducing Rs 200 and Rs 2,000 bank notes. The colour Rs 10 currency note was changed from light brown to chocolate brown, Rs 50 from light pink to fluorescent blue, Rs 100 from blue and grey to lavender, and Rs 500 from orange-yellow to stone-grey.
The new look notes are being introduced since November 2016 under Mahatma Gandhi (New) series. These are different in size and design compared to the notes issued previously. Despite the introduction of new currency notes, the old ones continue to be legal tender barring Rs 500 and Rs 1,000, which were banned on the demonetisation day.
The RBI data show that by the end of March 2018, there were over 10 billion pieces of Rs 20 note in circulation. The number had doubled from 4.92 billion by the end of March 2016. The Rs 20 note account for 9.8% of the total number of currency notes in circulation at the end of March 2018.