RBI to issue new Rs 50 banknotes in Mahatma Gandhi series

The Reserve Bank of India on 19th December 2016 said that it will issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, with inset letter ‘L’, ‘R’ in both the number panels, bearing signature of Dr Urjit R.Patel, Governor, Reserve Bank of India, and the year of printing ‘2016’ printed on the reverse of the banknote. These banknotes would have the ascending size of numerals in the number panels and without intaglio printing; the banknotes are similar to Rs 50 banknotes issued earlier in Mahatma Gandhi Series-2005.

The Central Bank said that all the banknotes in the denomination of Rs 50 issued by the RBI in the past will continue to be legal tender. Prime Minister Narendra Modi had announced on November 8 to demonetise Rs 500 and Rs 1,000 currency notes
Source-The Hindu


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