Business

RBI soon Introduce New Notes of Rs. 20

Sanjana Mukhiya

Updated:26th Dec, 2018 at 10:34 AM

New Delhi: The Reserve Bank of India (RBI) will soon introduce a new Rs. 20 currency note with additional features, according to a document of the central bank.

The central bank has already issued new look currency notes in demonetization of Rs. 10, Rs, 50, Rs. 100, and Rs. 500, besides introducing Rs. 200 and Rs. 2000 bank notes.

The new notes are introduced after November 2016 under Mahatma Gandhi (new) series these all new notes are of different in size and design compared to the previous note issued.

According to the RBI databank, there were 492 crores pieces of the Rs. 20 note in circulation as on March 31, 2016

After the demonetization the changes in the series of the currency of Rs. 500 and Rs. 1000 are illegal in the market and banned by Government already.

The number more than doubled to about 1,000 crores pieces by March 2018.

The Rs. 20 notes accounted for 9.8 percent of the total number of currency notes in circulation at the end of March 2018.