RBI to issue new Rs 100 notes, old notes to remain valid
The Reserve Bank of India (RBI) will soon issue new Rs 100 notes, while the existing notes continue to remain valid and legal tender.
“The Reserve Bank of India will shortly issue ₹ 100 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the numbering panels, bearing the signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing ‘2016’ printed on the reverse of the banknote,” read an official statement from RBI.
The design of the new notes will be similar to the existing ones in terms of ascending size of numerals in the number panels, bleed lines, and enlarged identification mark, it added.
RBI also said that existing Rs 100 notes will continue to remain legal tender even after the new notes have been added to circulation.
On December 5, the RBI had also said that it will issue new currency notes of Rs 20 and Rs 50 denominations with numerals in ascending size in the number panels and without intaglio printing.
Like the Rs 100 notes, even the older Rs 20 and Rs 50 notes will continue to remain legal tender.
The decision to print new currency was announced against the backdrop of government’s decision to demonetize Rs 500 and Rs 1000 notes last month in a bid to curb black money.