RBI to introduce new Re 1 notes after 22 years
The Reserve Bank of India will soon put new one rupee notes, with predominantly pink-green on obverse and reverse in combination with other colours, into circulation.
The notes bearing the rupee symbol have been printed by the Government of India.
At present, one rupee coins are minted. Printing of Re 1 notes was discontinued in 1994 but was relaunched in 2015. The new note will reportedly cost taxpayers 94 paise, compared to the one rupee coin, which is 70 paise when melted.
“The Reserve Bank of India will soon put into circulation currency notes in one rupee denomination,” the central bank said in a statement.
The note will bear signature of Shaktikanta Das, Secretary in the Ministry of Finance. Rest other currency notes bear the signature of the RBI Governor.
The numbering will be in black at right hand bottom portion of the note.
On the reverse side, the year ‘2017’ is mentioned. There is also representation of One Rupee coin with rupee symbol having floral design and the surrounding design consists of the picture of ‘Sagar Samrat’ the oil exploration platform.
“The colour of One Rupee Currency Note shall be predominantly pink green on obverse and reverse in combination with others,” the RBI said.
Back in 1994-95, a total 40 million currency notes of Re 1 denomination were issued. Thereafter, there was no issuance of one rupee notes from fiscal year 1995-96 till fiscal year 2013-14.
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