The Reserve Bank of India on Sunday announced that it will shortly issue new Rs 20 and Rs 50 banknotes. However, the old Rs 20 and Rs 50 notes will continue to be legal tender.
The new Rs 20 denomination note will have an inset letter “L” in both the number panels. The Rs 50 denomination currency will be issued without this letter. Both banknotes will bear the signature of RBI Governor Urjit Patel and will have ‘2016’ printed on the reverse of the note.
The design and security features of these banknotes will be similar to the Rs 20 and Rs 50 bank notes were issued in 2005. The notes will have numerals in ascending size like the ones in the Mahatma Gandhi series-2005, the RBI said in a statement.
This move by the RBI comes weeks after the government demonetised Rs 500 and Rs 1,000 notes on November 8. The RBI has since introduced a Rs 2,000 note and a new version of the Rs 500