The new notes for both the denominations will bear the signature of the new governor Urjit Patel along with the year, '2016' printed on the reverse side of the note.
The Reserve Bank of India (RBI) will issue new Rs 50 and Rs 20 notes, announced the apex bank on its website on Sunday. The new notes for both the denominations will bear the signature of the new governor Urjit Patel along with the year, '2016' printed on the reverse side of the note. However, the new Rs 20 note will have an inset letter 'L' in both the number panels while the Rs 50 note shall not have an inset letter in both the number panels.
The RBI also stated that all the old notes issued by the bank in the past will continue to be legal tender.
Here is the full text of RBI's announcement:
The Reserve Bank of India will shortly 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. The design and security features of these banknotes will be similar to the banknotes of ₹ 20 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005 through Press Release No. 2016-2017/1004. All the banknotes in the denomination of Rs 20 issued by the Bank in the past will continue to be legal tender.
The Reserve Bank of India will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter 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. The design and security features of these banknotes will be similar to the banknotes of Rs 50 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005 through Press Release No. 2016-2017/751. All the banknotes in the denomination of Rs 50 issued by the Bank in the past will continue to be legal tender.
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