RBI to release new ₹20 currency note soon

RBI

The Reserve Bank of India (RBI) will soon introduce a new ₹20 currency note with additional features, reported PTI citing RBI Databook. The apex bank has already issued new look currency notes in the denominations of ₹10, ₹50, ₹100, and ₹500, besides introducing ₹200 and ₹2,000 bank notes.

Despite the new look notes coming into circulation, the old Rs 20 notes will not be withdrawn. The new look notes are being introduced since November 2016 under Mahatma Gandhi (New) series post demonetization. These are different in size and design compared to the notes issued previously.

The currency notes, except for banned ₹500 and ₹1,000, issued under old series continue to remain legal tender.

According to the RBI databank, there were 4.92 billion pieces of ₹20 note in circulation as on March 31, 2016. The number more than doubled to about 10 billion pieces by March 2018. The ₹20 notes accounted for 9.8 percent of the total number of currency notes in circulation at the end of March 2018.

Earlier this year, RBI released new note of ₹100 which has the impressions of Gujarat’s Rani-ki-Vav.  All the new notes are different from the previous Mahatma Gandhi based notes. While Gandhi’s picture remains at the front of each note still, the reverse side and the color of notes has been changed.

Worth mentioning here is the new MG series notes have features like a denominational number is written in Devnagri, micro letters ‘RBI’, ‘भारत’, ‘INDIA’.

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