A lot of people today queued up in front of the Reserve Bank of India today to get the newly launched Rs 50 and Rs 200 notes.
The freshly issued notes are expected to deal with the the crisis of low availability of lower denomination notes in the circulation.
While the new Rs 200 note would be a bright yellow in colour. The new Rs 50 would be available in Fluorescent Blue.
However, the old existing Rs 50 note would continue to be a legal tender.
In a statement released on its website on Thursday, the RBI said, "To achieve the optimal system of currency that would minimise the number of denominations while increasing the probability of proffering exact change, especially at the lower end of denominations, there is a logical need to introduce the missing denomination of Rs 200, which will make the present currency system more efficient".
"Provision of the new denomination, therefore, would facilitate exchange, particularly for the common man who deals with denominations at the lower end", it further added.
Meanwhile, in Mumbai on Thursday, a man was held in possession of the newly launched Rs 50 before its official release by the RBI, reported the Indian Express.
However, in a serious security breach, it has not been cleared yet that how and where he procured the note before it's been officially released.
The new Rs 50 note, has motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage.
Following are the key features of the new Rs 50 note:
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)
10. Year of printing of the note on the left,
11. Swachh Bharat logo with slogan,
12. Language panel,
13. Motif of Hampi with Chariot,
14. Denominational numeral ५० in Devnagari.
Dimension of the banknote will be 66 mm x 135 mm.
