RBI to release new Rs 20 note in Mahatma Gandhi series soon
RBI will shortly issue Rs 20 notes in Mahatma Gandhi series 2005 that will be similar in design to those currently in circulation
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.
- EU finance ministers strike deal on overhaul of banking capital rules
- Big oil consumers start to lock-in prices as Brent urges to $80
- PSU bank recapitalisation plan stumbles as losses mount
- Govt orders out-of-turn coal supply to PSUs, private plants to be hit
- Oil prices fall as Russia floats gradual production increase
Editor's Picks »
- Artificial intelligence predictions may not always lead to better decisions
- 2G case: Delhi HC defers hearing on CBI, ED plea against acquittals
- Friday Wrap: ‘Parmanu,’ ‘Solo’ make for dull movie week
- In order to grow, we need to get into other markets: Vince Voron
- IHH extends revised offer for Fortis to 30 June
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars