New Rs 50 note with RBI Governor Shaktikanta Das’ signature soon; here’s what will happen to old currency
New Rs 50 note with RBI Governor Shaktikanta Das’ signature soon; here’s what will happen to old currency
The Reserve
Bank of India (RBI) on Tuesday said that it will soon issue new Rs 50
denomination currency notes bearing the signature of Governor
Shaktikanta Das.
The old banknotes issued by the central bank will remain legal tender, it also said in a statement.
The Reserve
Bank of India (RBI) on Tuesday said that it will soon issue new Rs 50
denomination currency notes bearing the signature of Governor
Shaktikanta Das. The old banknotes issued by the central bank will
remain legal tender, it also said in a statement.
“The Reserve
Bank of India will shortly issue ₹ 50 denomination Banknotes in Mahatma
Gandhi (New) Series bearing the signature of Shri Shaktikanta Das,
Governor. The design of these notes is similar in all respects to ₹ 50
banknotes in Mahatma Gandhi (New) Series”, RBI said in a statement
today.
In 2017, RBI
had issued new Rs 50 and Rs 200 notes that are being used until now.
The currently used Rs 50 notes are in the Mahatma Gandhi (new) series
and bear the motif of ‘Hampi with Chariot’ on the reverse. Whereas the
Rs 50 note is fluorescent blue in colour, the Rs 200 note has shades of
purple.
On 8
November 2016, Narendra Modi government had announced the demonetisation
of all Rs 500 and Rs 1000 banknotes of the Mahatma Gandhi Series. It
also announced the issuance of new Rs 500 and Rs 2000 banknotes in
exchange for the demonetised banknotes.
The Modi
government had then said that the noteban action would restrict the
shadow economy and cut down the use of illegal and counterfeit cash to
fund illegal activity and terrorism.
Recently The
Indian Express had reported that the economy is seeing a new phenomenon
described as ‘reverse flow’ of coins. It has left the central bank with
a glut of as many as 900 crore coins that may be on the “verge of
collapsing due to weight”, the report added.
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