The Reserve Bank of India (RBI) announced that it is all set to release new Rs 20 and Rs 50 notes, without an inset letter in both the number panels. The notification further adds that no major differences will be observed in the upcoming notes, except it carries incumbent RBI Governer Urjit Patel’s signature on the front side and year ‘2016’ printed on the back.
The statement said that the old denominations of Rs 20 and Rs 50 notes will be continued.
After the move on demonetizing the higher denominations like Rs 500 and Rs 1000, this is the move taken by the central bank. Though the new Rs 500 and Rs 2000 notes were subsequently released, there might not be further Rs 1000 notes again.
Following the note ban, Secretary, economic affairs, Shaktikanta Das, had said all the existing notes will be phased out, with new notes with enhanced security features being issued.