By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NorthBridge TimesNorthBridge Times
  • Auto
    • Bikes
  • Entertainment
    • Bollywood
    • Celebrity
    • Hollywood
  • Events
  • Festival
    • Diwali
    • Holi
  • Sports
    • NBA
    • Basket Ball
    • Cricket
    • Hockey
  • Health
    • COVID-19
  • Technology
Search
© 2022 NorthBridge Times. All Rights Reserved.
Reading: RBI to print new notes of Rs 50 and Rs 20, old notes will remain a legal tender
Share
Aa
NorthBridge TimesNorthBridge Times
Aa
Search
Follow US
© 2022 NorthBridge Times. All Rights Reserved.




Home – Finance

RBI to print new notes of Rs 50 and Rs 20, old notes will remain a legal tender
FinanceIndia

RBI to print new notes of Rs 50 and Rs 20, old notes will remain a legal tender

Ankita Sharma
Ankita Sharma Published December 5, 2016
Last updated: 2016/12/05 at 11:21 AM
Share
2 Min Read
SHARE

After new Rs 500 and Rs 2000 notes, Reserve Bank of India will soon print new notes of Rs 50 and Rs 20 notes, however, the old notes of small denominations will also remain a legal tender.

RBI to print new notes of Rs 50 and Rs 20, old notes will remain a legal tender

New notes of Rs 50 and Rs 20 to be printed in Mahatma Gandhi 2005 series

“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”, said RBI in a statement.

“The design and security features of these notes will be similar to the Rs 50 notes, with the ascending front of numerals in both the number panels without the intaglio print as in the earlier Mahatma Gandhi series 2005“, it further said.

The font will be in ascending order for the number panels and the new notes would not have the intaglio print.

RBI to print new notes of Rs 50 and Rs 20, old notes will remain a legal tender

The small denomination notes are used for daily payments for which the high denomination notes are rarely used. As per the RBI reports, Rs 20 notes constitute 5.4 percent and Rs 50 notes constitute 4.3 percent of the total currency in circulation till March 2016.

Owing to the demonetisation of Rs 500 and Rs 1000 old notes, there has been a cash crunch in the economy and the people have been making more use of the small denomination currency to make payments. So, the move to print more of small denomination notes is deemed to greatly ease the cash crunch in the economy.

You Might Also Like

Bitcoin and the Future of Philanthropy and Charitable Giving

Defects in Diamonds

Best Diwali Sandesh to Soldiers Greetings, Wishes, Messages to Indian Army

Diwali Crackers Harmful Effects: Top 6 Reasons Why You Should Give Up Bursting Crackers

Diwali Sizzle: Top Best Diwali Dresses To Try Out On This Festival Of Lights

TAGGED: demonetisation, demonetization in india, india, Indian Currency, Reserve Bank Of India, Rs 20 and Rs 50 notes

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Ankita Sharma December 5, 2016
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Ahead of Its Official Release, ZUK Edge Gets Leaked Again; Here's the Specifications and Price Ahead of Its Official Release, ZUK Edge Gets Leaked Again; Here’s the Specifications and Price
Next Article TLC WWE Tables Ladders Chairs 2016: AJ Styles Retains the World Championship Title
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.




Latest News

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined
Apple Current Worth is More Than Alphabet, Amazon and Meta Combined
Business Economy November 7, 2022
Stock Market: Asian Markets Looking Strong
Stock Market: Asian Markets Looking Strong
Economy Business November 7, 2022
Home Study Courses
Managing a Small Business: 5 Tips for Long Term Growth
Business May 7, 2022
Medical Supplies Can Protect You When You Work With Radiation
Which marketing techniques are likely to benefit your manufacturing business?
Business February 17, 2022

You Might also Like

bitcoin cryptocurrency
FinanceTechnology

Bitcoin and the Future of Philanthropy and Charitable Giving

February 21, 2023
Defect in Diamonds
LifestyleFinance

Defects in Diamonds

November 22, 2022
Diwali Sandesh to Soldiers
IndiaFestival

Best Diwali Sandesh to Soldiers Greetings, Wishes, Messages to Indian Army

October 15, 2022
Diwali Crackers Harmful Effects
FestivalDiwaliIndia

Diwali Crackers Harmful Effects: Top 6 Reasons Why You Should Give Up Bursting Crackers

October 14, 2022

NBT

We influence 20 million users and is the number one business and technology news network on the planet.

Quick Link

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Advertise With Us
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    
NorthBridge TimesNorthBridge Times
Follow US

© 2015-2022 NorthBridge Times. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?