RBI to launch new Rs.100 note, old notes remain legal tender
The Dollar Business Bureau
The Reserve Bank of India (RBI) said that it will soon start the circulation of new notes of Rs.100 denomination in the market with more identification features.
“The Reserve Bank will shortly issue Rs.100 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the numbering panels," the Central Bank said in a release.
The banknotes with '2016' as printing year will be in the same design as with the prevailing 100 rupee notes in the Mahatma Gandhi Series-2005, with an enlarged identification mark, and ascending numerals size in the number panels and bleed lines, on the obverse.
The money regulatory authority said that it has already put the Rs.100 currency notes into circulation with ascending numerals size in the number panels, however, without bleed lines and inflated identification mark.
These currency notes will stay in circulation concomitantly along with the notes now being issued, it added.
The Bank further said that all the currency notes of Rs.100 denomination issued in the past will remain to be a legal tender.
In addition, earlier this week the central bank had said that it will issue currency notes of Rs.20 and Rs.50 denomination in the market.
With the launch of small value banknotes, the common consumers will get a relief in meeting their day-to-day requirements as the Rs.2000 denomination currency note presently available has a limited acceptability because it is a big issue to find the change when almost 86% of the currency has been wiped off from the market due to demonetisation of Rs.500 and Rs.1000 banknotes.