The Reserve Bank of India issued a statement about the issuance of new Rs.20 and Rs.50 notes. This decision came four weeks after the Demonetisation of the high denomination Rs.500 and Rs.1000 notes. The move received a mixed review from different sections of society but mostly has been praised. The RBI declared now that there will issuance of new notes on Rs.20 and Rs.50 denomination, but while new notes are issued the old notes will be in circulation and will be valid tender notes.
The new notes of Rs.20 and Rs.50 will be having numerals in the number panel in ascending size and will be issued without intaglio printing. The RBI statement said that, “The Reserve Bank of India will issue new Rs.20 notes in Mahatma Gandhi- 2005 series with and inset of ‘L’ in both the number panels. They will bear the signature of Dr. Urjit R. Patel, the RBI governer, and the year 2016 will be printed on reverse of the bank note.”
Another statement of RBI about Rs.50 note read, “The RBI will also issue new Rs.50 notes. These notes will be of Mahatma Gandhi series-2005 and will come without an inset letter in both the number panels. They will bear the signature of Dr. Urjit R. Patel, the RBI Governer, and 2016 will be printed on the reverse of the bank note.”
While these changes will be under process the old Rs.20 and Rs.50 notes will remain legal tender and will be in circulation. The RBI also said that the new notes will have similar security features as the old Rs.20 and Rs.50 notes. The old legal tender notes will remain in circulation throughout the process of printing the new notes and circulation.
