The Government of India and RBI has recently announced regarding the demonetization of the notes Rs 500 and Rs 1000 in India. The organisation has come up with the refurbishment for the smaller denominations as well.
Now this is not entirely related to the demonetization, and rather than making the design upgrade with the 2005 created bank notes, RBI is going to issue new Rs. 20 and Rs. 50 notes. The older notes are still acceptable and valid. The notes come with ‘2016’ as the manufacturing year.
As you all knew the consequences people are facing right now with the effect of demonetization. And now with the release of these new notes, there is no reason people need to panic about the old notes. To avoid the terms like, “the old notes are useless” etc. RBI has come up with the official statement. “All the banknotes in the denomination of Rs. 50 and Rs. 20 issued by the Bank in the past will continue to be legal tender.”
As of now, the government hasn’t released the official photos or anything else regarding the new notes. The RBI does not mention the release date of these notes and circulation. As per the sources, we can expect this to release in this week.
The prior reason behind the release of these new notes is still unclear. The public is still struggling to get the hands on new Rs 2000 and Rs 500 notes.
RBI will issue the new Rs 50 bank notes in less time with Mahatma Gandhi series- 2005, without inset letter in both the number panels bearing the signature of RBI Governor Dr Urjit Patel with the year of printing ‘ 2016’ on the reverse of the banknote.
Rs 50 denomination notes will carry an ascending font of numerals on both number panels. They don’t have the intaglio print which has earlier issued in Mahatma Gandhi 2005 series. The overall design of the note mostly remains same.
Another denomination of Rs 20 comes with the same upgrades seen on Rs 50 note. But this note additionally has an inset letter ‘L’ in both the number panels. These are the only differentiations observed on these two new updated bank notes.