Reserve Bank Of India To Soon Release New Rs. 20 Bank Note

Center is eyeing RBI reserves to fund ‘electoral lollipops’. Krishnan

The Reserve Bank of India or RBI will soon release 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 the denominations of Rs. 10, Rs. 50, Rs. 100, and Rs. 500. It had also introduced the Rs. 200 and Rs. 2,000 bank notes.

The new look notes are being introduced since November 2016 under Mahatma Gandhi (New) series. These are different in size and design compared to the notes issued previously.

The currency notes, except for banned Rs. 500 and Rs. 1,000, published under old series continue to remain legal tender.

As per the RBI databank, there were 4.92 billion pieces of Rs. 20 note in circulation as on March 31, 2016. The number more than doubled to about 10 billion 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.

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