RBI to issue Rs 100 Banknotes
The new notes will be printed without inset letter in both the numbering panels. Moreover, the notes will bear the signature of Dr Urjit R. Patel, Governor of Reserve Bank of India.
The Reserve Bank of India (RBI) on 6 December 2016 announced to issue Rs 100 denomination banknotes in the Mahatma Gandhi Series-2005.
- The new notes will be printed without inset letter in both the numbering panels. Moreover, the notes will bear the signature of Dr Urjit R. Patel, Governor of Reserve Bank of India.
- The year of printing, that is '2016', will be printed on the reverse side of the banknote.
- The design of these banknotes will be similar in all respects to the previous Rs 100 banknotes in Mahatma Gandhi Series- 2005. The previous notes had ascending size of numerals in the number panels, bleed lines and enlarged identification mark on the obverse side.
However, the old banknotes in the denomination of Rs 100 issued by the Bank in the past will continue to be the legal tender.
Rs 100 denomination banknotes with the ascending size of numerals in the number panels but without bleed lines and enlarged identification mark will also continue to be in circulation along with the banknotes being issued now.
Earlier this week, the Reserve Bank of India has also announced to issue new Rs 50 and Rs 20 denomination banknotes as well.
Issuance of these small value currencies will be a big relief for the people who are finding it difficult to meet their daily requirements after the ban on old Rs 500 and Rs 1000 currency notes.
These small value notes will not only deal with the cash crunch but will also pour in liquidity in the country at the time when almost 86 percent of the cash has been wiped off from the market after the implementation of the demonetisation plan.