RBI to issue new batch of Rs 20 currency notes

Reserve Bank of India is set to release currency notes of denomination Rs 20 under the Mahatma Gandhi series-2005. The new notes will be released with the inset letter 'S' in both the number panels.

Another change that will be seen in the new currency notes will also carry the signature of RBI Governor Urjit Patel, which the older Rs 20 notes did not have.

The design of the new notes will not be changed in anyway and will remain the same as the ones released in September 2016 with the inset letter 'R'.

The older Rs 20 notes in circulation will continue to be legal tender.

An image of a note of Rs 200 denomination was being widely shared on social media earlier this month, even though no official confirmation about its authenticity came from the responsible authorities. Reports suggest that the printing process had begun and the central banks would soon issue the new notes.

The RBI reportedly intends to issue the Rs 200 notes to make daily transactions easier for people.

Last month, the RBI introduced a new series of the recently introduced Rs 500 notes.

"In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which are currently legal tender, a new batch of banknotes with inset letter "A" in both the number panels, bearing the signature of Dr Urjit R. Patel Governor, Reserve Bank of India; with the year of printing "2017" on the reverse, are being issued," the central bank said in a statement.

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