New Rs 100 note likely next year, to be printed from April 2018: report

After replacing Rs 500 notes and brining in a new denomination of Rs 200 notes, the Reserve Bank of India (RBI) will begin redesigning Rs 100 currency notes. The printing will start in April next year, according to a report by Hindustan times.

The report also states that new Rs 100 note will be of same size and dimension to make it compatible to the automatic-teller machines (ATMs). In December, RBI officials had said that all currency notes will be redesigned.

The existing Rs 100 notes will be withdrawn from the system in phased manner. 

In November last year, India banned the old Rs 500- and Rs 1,000-denomination bank notes in to curb black money. It accounted for 86% of the currency in circulation at the time. Thereafter, government came out with a new Rs 2000 currency note.

The printing for new Rs 100 note would begin once the bank finishes the whole exercise of putting Rs 200 notes into the system. It will take another six months, the report further quoted.

Recently, government introduced the Rs 200 notes in wake of demand for lower denomination currencies as people were reluctant to withdraw Rs 2000 currency notes.

In August, the RBI launched Rs 200 note and released a statement: "To achieve the optimal system of currency that would minimise the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations, there is a logical need to introduce the missing denomination of Rs 200, which will make the present currency system more efficient".