Nearly a month after Prime Minister Narendra Modi outlawed high value currency notes, the Reserve Bank of India in December last year also unveiled its plan to introduce new currency notes of Rs 50 and Rs 20 denominations.
The central bank then said, “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.”
Since then there was no official word on these notes. However, unverified images of yet-to-be-unveiled note of Rs 50 denomination are doing rounds on social media sites. Going by the picture, the new currency notes are in the Mahatma Gandhi Series-2005 and will bear the signature of current RBI Governor Urjit Patel.
Meanwhile, a government official was quoted saying by The Hindu Business Line that the new notes will sport the motif of a South Indian temple on the reverse. Inuth.com could not independently verify the authenticity of these images. Last year, after demonetising old Rs 500 and Rs 1000 notes, RBI issued Rs 500 (stone-grey in colour) and Rs 2000 (purple in colour) in order to refill the vacuum left by the withdrawal of the banned notes.
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