Reserve Bank of India to issue new Rs 10 notes with enhanced security features

The Reserve Bank of India on Thursday said it will shortly issue Rs 10 denomination banknotes in the Mahatma Gandhi Series-2005 with inset letter 'L' in both the number panels, bearing the signature of RBI Governor Urjit R Patel.

"The numerals in both the number panels of these banknotes are in the ascending size from left to right while the first three alpha-numeric characters (prefix) remain constant in size. The year of printing '2017' will be printed on the reverse of the banknote," RBI said.

All the banknotes in the denomination of Rs 10 issued by the bank in the past will continue to be legal tender, the RBI said.

The announcement comes four months after Prime Minister Narendra Modi announced demonetisation of high value currency notes of Rs 500 and Rs 1,000.

On February 27, Specified Bank Notes (Cessation of Liabilities) Bill 2017 received the assent of the President.

The legislation, which was passed by Parliament last month, makes holding, transfer and receiving of the old 500 and 1,000 rupee notes a criminal offence. It also ends the liability of the Reserve Bank of India (RBI) and the government on the currency notes demonetised in November last year.

It prohibits holding of "more than 10 notes in total, irrespective of the denomination" after expiry of the 50-day deadline on December 30 for depositing the junked currency in banks or post offices.