RBI to issue new Rs 20, Rs 50 notes; old notes to remain legal tender

Mumbai: The Reserve Bank of India will shortly issue Rs 20 and Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, bearing signature of  Urjit R Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote, RBI said in a statement on Sunday

Making a statement on the new Rs 20 notes, RBI said, "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.

"All the banknotes in the denomination of ₹ 20 issued by the Bank in the past will continue to be legal tender", added RBI.

The Reserve Bank of India will also shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of 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 ₹ 50 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005" said RBI in the press statement.

All the banknotes in the denomination of  Rs 50 issued by the Bank in the past will continue to be legal tender.