The Reserve Bank of India (RBI) on Monday announced that it will soon issue two sets of Rs 50 denomination notes with an inset letter 'R' and 'L' each in both number panels. It newly printed notes will bear the signature of the new governor Urjit Patel and the year '2016' on the reverse of the bank note.
Here is a full text of RBI's announcement:
1) Rs 50 denomination notes with inset letter 'R'
The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi Series-2005, with inset letter ‘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 have the ascending size of numerals in the number panels; the banknotes are similar to the banknotes of ₹ 50 issued earlier in Mahatma Gandhi Series-2005 through Press Release No.2016-2017/1403 dated December 4, 2016.
2) Rs 50 denomination notes with inset letter 'L'
The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi Series-2005, with inset letter ‘L’ 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 have the ascending size of numerals in the number panels; the banknotes are similar to ₹ 50 banknotes issued earlier in Mahatma Gandhi Series-2005 through Press Release No.2016-2017/1403 dated December 4, 2016,
All the banknotes in the denomination of Rs 50 issued by the Bank in the past will continue to be legal tender.
