Demonetisation: India's central bank to print new Rs 20, Rs 50 notes
The Reserve Bank of India (RBI) on Sunday announced it would be printing new Rs 20 and Rs 50 notes in the Mahatma Gandhi 2005 series.
Both notes will have numerals in ascending size in the number panels and without intaglio printing. They will bear the signature of RBI Governor Urijit Patel
India's central bank has also announced that Rs 20 and Rs 50 notes issued in the past will continue to be legal.
The RBI took the decision following the shortfall in currency which has gripped the nation and left people inconvenienced following the Narendra Modi-led BJP government's decision to demonetise Rs 500 and Rs 1000 notes on November 8.
The new Rs 20 notes will have the inset letter 'L' in both number panels, while the Rs 50 currency will be without the letter. The year '2016' will be printed on the reverse of the banknotes.
"The Reserve Bank of India will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi Series-2005, with inset letter L in both the number panels, bearing signature of Dr Urjit R Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote," RBI said in a statement." RBI said about the Rs 20 notes in a press release.
"The Reserve Bank will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr Urjit R Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote," the central bank about the design of the Rs 50 currency.