RBI to issue new Rs.100 notes

New Delhi [India], Dec. 6 : The Reserve Bank of India (RBI) on Tuesday announced that it would soon issue Rs. 100 denomination notes in the Mahatma Gandhi Series-2005, without inset letter in both the numbering panels.

However, all the previous Rs. 100 notes issued by the bank will continue to be legal tender. The new notes will bear the signature of RBI Governor Urjit R. Patel and the year of printing '2016' would be printed on the reverse of the banknote. The design of these notes would be similar in all respects to the old Rs. 100 notes having ascending size of numerals in the number panels, bleed lines, and enlarged identification mark, on the obverse.

The RBI had also issued Rs. 100 denomination banknotes with the ascending size of numerals in the number panels, but without bleed lines and enlarged identification mark.

These banknotes will remain in circulation alongside the banknotes being issued now. This came after the Bank decided to issue new currency notes of Rs 20 and Rs 50 denominations with numerals in ascending size in the number panels and without intaglio printing.

The decision to replace the smaller denomination currency notes of Rs.50 and Rs.100, incorporating new features and design was taken after the government demonetised Rs.

500 and Rs. 1000 notes last month. Secretary, Economic Affairs, Shaktikanta Das had said that the new currency notes will be infused gradually in the system and the old series notes will be phased out.

Source: ANI