The Reserve Bank of India is going to issue new 50 and 20 rupees currency notes denominations with numerals in ascending size in the number panels and without intaglio printing. The old notes of rupees 20 and 50 that been issues by the government will be be legal tender. The new notes have come against the scrapping old notes of 500 and 1000 rupees notes to remove the black money out of Indian Economy.
The RBI will 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.
The year 2016 will printed on the new note on the reserve side of the bank note.
About the Rs 50 denomination the RBI says,”They will issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr Patel, Governor, Reserve Bank of India, and the year ‘2016’ printed on the reverse of the banknote.”
The design and the security forces of both new notes of Rs 20 and Rs 50 will be the same as the domination of old Rs 20 and Rs 50 notes with ascending numerals fonts on both the number panels,without intaglio print issued earlier in Mahatma Gandhi Series- 2005.
The government had demonetized 500 and 1000 rupees notes to wash out black money last month.