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Thursday 23 January 2020

RBI to issue new Rs 100 notes of base colour lavender

In October last year, the central bank had said it would start printing the new banknotes around April this year, after it finishes printing the new Rs 200 notes

New Delhi: Reserve Bank of India will shortly issue new Rs 100 denomination banknotes in the Mahatma Gandhi (new) series, the central bank said on Thursday.

RBI is set to release anew Rs 100 note in violet colour by next month. As per reports, the new note will house the impression of Gujarat’s Rani-Ki-Vav (queen’s stepwell). The size of this currency will be smaller than the present one. However, it will be slightly bigger than new Rs 10 note. We need not to worry for the old currency as the denomination will not be impacted.

Here are the things you need to know about the new 100 rupee note:

– As the size of the new Rs 100 note is bigger than Rs 10, banks may have to again recalibrate the ATMs to accommodate the new notes.

– Gujarat’s Rani- ki-Vav will be printed at the backside. In 2014, UNESCO approved this 11th-century wonder at Patan (Gujarat) as a World Heritage Site.

– The new Rs 100 note will weigh less than the old one.

– The new Rs 100 note is being printed at Dewas-based Bank Note Press and might be launched in August or by September.

All Rs 100 banknotes issued by the Reserve Bank in the earlier series will also continue to be legal tender.

As is normal, when a new design of banknote is introduced, printing and supply of these notes for distribution to public through the banking channel will gradually increase, the RBI said.

In October last year, the central bank had said it would start printing the new banknotes around April this year, after it finishes printing the new Rs 200 notes.

The new Rs 10 denomination banknote is in chocolate brown color with Konark Sun Temple as a motif on the reverse side. The RBI has also introduced new fluorescent blue Rs 50 banknotes bearing the motif of ‘Hampi with Chariot’ that depicts India’s cultural heritage.

Prime Minister Narendra Modi announced the scrapping of old notes of Rs 1,000 and Rs 500 in November 2016.

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