The Reserve Bank of India on Friday announced that it will soon introduce new Rs 10 banknotes.
The chocolate-brown notes will have the signature of RBI Governor Dr Urjit R Patel, and the motif of the Konark Sun Temple and the Swachch Bharat logo on the reverse. The central bank said the old Rs 10 notes will continue to be legal tender.
After demonetisation in November 2016, the government introduced new Rs 2,000 notes and redesigned Rs 500 notes. The Finance Ministry told Lok Sabha that the RBI had printed 16.96 billion pieces of Rs 500 notes and 3.6 billion pieces of Rs 2,000 notes – worth Rs 15.79 trillion – as on December 8, 2017.
The central bank said in its annual report for the 2016-’17 financial year that the volume of banknotes had increased by 11.1%, primarily because of higher infusion of lower denomination notes following demonetisation. This would help check fake notes, which had increased significantly since 2008, the government argued.