RBI to Issue New Rs 50 Notes, Old Notes to Remain Legal Tender

The old Rs 50 notes will continue to be legal tender.

In November 2016, new Rs 500 and Rs 2,000 currency notes were issued as part of PM Narendra Modi’s bid to curb the flow of black money in the economy.

(Photo: Altered by The Quint)

The Reserve Bank of India (RBI) is gearing up to issue another set of new currency notes.

According to an RBI notification, the central bank would soon issue Rs 50 denomination bank notes with a portrait of Mahatma Gandhi in the front and a motif of Hampi chariot at the back.

However, the current Rs 50 notes would continue to be legal tender.

(Photo Courtesy: RBI notification)

Salient Features:

Obverse (front)

1. See through register with denominational numeral ‘50’
2. Denominational numeral ५० in Devnagari
3. Portrait of Mahatma Gandhi at the centre
4. Micro letters ‘RBI’, ‘भारत’, ‘INDIA’, and ‘50’
5. Windowed demetalised security thread with inscriptions ‘भारत’ and RBI
6. Guarantee clause, Governor’s signature with promise clause, and RBI emblem towards right of Mahatma Gandhi portrait
7. Ashoka Pillar emblem on the right
8. Mahatma Gandhi portrait and electrotype (50) watermarks
9. Number panel with numerals growing from small to big on the top left side and bottom right side.

Reverse (back)

1. Year of printing on the left
2. Swachh Bharat logo with slogan
3. Language panel
4. Motif of Hampi with a chariot
5. Denominational numeral ५० in Devnagari.

The dimension of the banknote would be 66mm x 135mm.

In November 2016, new Rs 500 and Rs 2,000 bank notes were issued as part of Prime Minister Narendra Modi’s bid to curb the flow of black money in the economy. It drew the government criticism for not being adequately planned.

However, unlike the previous announcement where the old notes were invalidated, this current notes would continue to be legal tender.