So This Just Happened (Again!) - New Rs 20 & 50 Notes Are Coming, But Old Notes Still Valid
The Reserve Bank of India is all set to bring in new Rs 20 and Rs 50 notes to the market. Though the good part here is that the old notes will still be accepted as legal tender! Thank God!
After the Government’s decision of discontinuing Rs 500 and Rs 1,000 notes, they’ve now attacked the 20 and 50 denominations as well. "The Reserve Bank of India will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi Series-2005."
They will be bearing the signature of Dr Urjit R Patel, Governor, Reserve Bank of India, and the year of printing '2016' will be printed on the reverse side of the banknotes. But the RBI has made it very clear that the old Rs 20 notes will also remain valid and acceptable! Same goes for Rs 50 notes too.
We really don’t know what the main motive behind this is, but looks like our wallet is getting an all-new look with these newly designed notes altogether!
Sourced via The Economic Times