RBI to issue new Rs 50 note, old note to stay valid; no confirmation on Rs 200 note yet

The Reserve Bank of India introduced the Rs 50 with new Mahatma Gandhi-2005 series today bearing signature of Governor Urjit Patel. The launch came shortly after the new currency notes were seen on social media platforms earlier today.

As seen in images spotted on social media, the colour scheme of the new Rs 50 notes has been changed to a fluorescent blue. Other designs, geometric patterns aligning with the overall colour scheme can be seen both at the front and back of the new Rs 50 note. The numerals on the number panels on the front of the note - at the top right and bottom left corners - have been designed ascending in size from left to right.

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Apart from this, the front of the note shows Mahatma Gandhi's portrait in the middle with the guarantee clause, Governor Urjit Patel's signature and the RBI emblem beside it. The Ashok Pillar emblem has been placed along the far right edge of the new Rs 50 note, whereas Rs 50 in Devnagri can be seen on its left. The windowed, demetalised security strip can be seen at running breadth-wise with RBI and Bharat in Devnagri on it.

At the back of the note bears the motif of Hampi with Chariot along with the Swachh Bharat logo. Meanwhile the old Rs 50 notes in circulation will continue to be legal tender.

The images of the new Rs 50 notes made their way to social media sites before official launch. Image: Twitter

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Patel had promised to launch new Rs 50 notes last year. "The Reserve Bank will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter 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," he had stated.

The central bank had already issued new batches of Rs 500 in June with inset letter 'A' and Rs 20 notes in July with inset letter 'S'. These also bore the new Mahatama Gandhi series and Patel's signature.

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Moreover, RBI has reportedly stopped printing Rs 2000 notes and ramped up the printing of new batches of Rs 500 notes in its place. The central bank is also set to introduce new note of denomination Rs 200 shortly. The Rs 2000 notes in circulation will continue to be legal tender, though.

Earlier in July, Minister of State for Finance Santosh Kumar Gangwar had stated that Rs 200 notes would be in circulation soon. The new Rs 200 notes could be released this month. According to a report in a news agency, the paper for Rs 200 notes was ready in the Mysuru paper mill in June.

While declaring devaluation of old high denomination of Rs 500 and Rs 1000 currency notes in November last year, Prime Minister Narendra Modi had declared that new Rs 50 and Rs 20 will also be released in time, with number panels having numerical in ascending sizes, like the new Rs 500 and Rs 2000 notes, and the intaglio printing.

After demonetisation of old Rs 500 and Rs 1000 currency notes, the RBI came up with newly-designed Rs 500 and Rs 2000 notes. The Cental bank has not given any official word on new Rs 1000 notes.

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