The RBI has also announced that Rs 20 and Rs 50 notes issued in the past will continue to be legal.
The Reserve Bank of India today announced that it will issue new notes of Rs 20 and Rs 50 soon. The announcement came in the wake of the ongoing cash crunch following Prime Minister Narendra Modi's decision to demonetise Rs 500 and Rs 1,000 notes on the midnight of November 8.
The new Rs 20 notes will have the inset letter 'L' in both number panels. The RBI has also announced that Rs 20 and Rs 50 notes issued in the past will continue to be legal.
The Rs 50 note will also be released in Mahatma Gandhi Series-2005. The RBI in a release said that design and security feature on these bank notes will be similar to the bank notes of Rs 20 denomination. The notes will also have ascending font on numerals in both panels without intaglio print that was issued earlier in Mahatma Gandhi-2005 series.
The announcement comes as a breather for citizens who were grappling with shortage of cash and limited denominations ever since the demonetisation drive.
While the nation has been gripped in chaos since demonetisation, the State Bank of India has announced that its ATMs will soon dispense Rs 50 and Rs 20 notes.
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