RBI to issue new Rs 20, Rs 50 notes soon; old notes to remain legal tender

NEW DELHI: The Reserve Bank of India (RBI) today announced that it will shortly issue new Rs 50 and Rs 20 bank notes. The apex bank said the old Rs. 50 and Rs. 20 notes will continue to be valid. Full text of RBI's announcement: The Reserve Bank of India will shortly issue ₹ 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. The design and security features of these banknotes will be similar to the banknotes of ₹ 50 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005 through Press Release No. 2016-2017/751. All the banknotes in the denomination of ₹ 50 issued by the Bank in the past will continue to be legal tender. New Rs. 20 notes: The Reserve Bank of India will shortly issue ₹ 20 denomination banknotes in the Mahatma Gandhi Series-2005, with inset letter ‘L’ 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. The design and security features of these banknotes will be similar to the banknotes of ₹ 20 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005 through Press Release No. 2016-2017/1004. All the banknotes in the denomination of ₹ 20 issued by the Bank in the past will continue to be legal tender.