New Delhi: The Reserve Bank of India (RBI) will soon introduce a new Rs 20 currency note with additional features. Reports claimed that the old Rs 20 notes will not be withdrawn.
The central bank had already introduced a Rs 200 note in addition to currency note in denomination of Rs 10, Rs 50, Rs 100, Rs 500 and Rs 2,000 after the demonetisation on November 8, 2016. These are different in size and design compared to the notes issued previously.
The currency notes, except for banned Rs 500 and Rs 1,000, issued under old series continue to remain legal tender. According to the RBI data bank, there were 4.92 billion pieces of Rs 20 note in circulation as on March 31, 2016. The number more than doubled to about 10 billion pieces by March 2018.
The Rs 20 notes accounted for 9.8 per cent of the total number of currency notes in circulation at the end of March 2018. Notably, the initiative to bring new currency notes is taken to curb black money, counterfeit notes and terror funding.
Earlier this year, the apex bank had issued new Rs 100 notes in lavender colour having motif of Rani ki vav’ a stepwell located on the banks of Saraswati river in Gujarat’s Patan. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.