RBI to release new Rs 20 note in Mahatma Gandhi series soon
Mumbai: The Reserve Bank (RBI) will shortly issue Rs 20 notes in Mahatma Gandhi series 2005 that will be similar in design to those currently in circulation.
The new notes will be bearing inset letter ‘S’ in the number panel and signature of RBI governor Urjit Patel, the central bank said in a notification on Wednesday.
Both the number panels will have inset letter ‘S’, RBI said, adding that the design of these notes to be issued now is similar in all aspects to the Rs 20 notes in the same series issued earlier.
“All the banknotes in the denomination of Rs 20 issued by the Bank in the past will continue to be legal tender,” the RBI added.
The central bank is also expected to introduce Rs 200 notes in the coming months to ease pressure on lower-denomination currencies that are in short supply, Mint reported on 4 June.
The new Rs 200 notes should be out before the end of 2017 and will greatly help in narrowing the demand and supply gap in smaller-denomination currency bills, people aware of the matter said. They also said that there is no immediate plan to reintroduce Rs 1,000 notes.