Reserve Bank of India to issue new Rs 20 currency note, know more

The Reserve Bank of India is all set to introduce a new currency note of Rs 20 denomination.

It is said that the new Rs 20 note will mark the latest addition to the new currency after demonetization of Rs. 500 and Rs. 1,000 denominations in November 2016.

It was said that the central bank has already replaced the Rs. 10, Rs. 50, Rs. 100, and Rs. 500 currency notes, and introduced denominations Rs. 200 and Rs. 2,000.

The new notes, under the Mahatma Gandhi (New) series, are different in size and design compared to the notes issued previously.

All other currency notes, except for the banned Rs. 500 and Rs. 1,000 issued under the old series, continue to remain legal tender.

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

The central bank had in July last year announced launch of 20-rupee bank notes in the Mahatma Gandhi series 2005.

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