Reserve Bank of India (RBI) is planning to start printing fresh Rs 100 currency notes around April 2018, according to a leading news daily. Printing of the redesigned notes will begin after the printing presses finish printing the new Rs 200 currency note by the end of the current financial year, said top officials to a leading news agency. The existing Rs 100 notes will continue to be legal tender and will be withdrawn gradually.
The Rs 100 note, which is one of the most common denominations in the country, will reportedly retain its size and dimensions to ensure compatibility with automatic-teller machines (ATMs). In December 2016, RBI officials had announced that all currency notes will be redesigned gradually. Since then, the central bank has issued redesigned Rs 50 and Rs 500 notes and introduced Rs 200 and Rs 2,000 notes. In November 2016, India had banned the old Rs 500 and Rs 1,000 denomination currency notes in an attempt to curb black money. The two denominations together accounted for 86% of the currency in circulation at that time.