RBI to Introduce a New 20 Rupees Note Soon

The Reserve Bank of India (RBI) will soon introduce a new Rs. 20 currency note with additional features, according to a document of the central bank.

The central bank has already issued new look currency notes in the denominations of Rs. 10, Rs. 50, Rs. 100, and Rs. 500, besides introducing Rs. 200 and Rs. 2,000 bank notes.

The new look notes are being introduced since November 2016, under the Mahatma Gandhi (New) series. These are different in size and design compared to the notes issued previously. The currency notes, except for banned Rs. 500 and Rs. 1,000, issued under old series continue to remain legal tender.

According to the RBI data bank, there were 4.92 billion Rs. 20 notes in circulation as on 31 March 2016. The number more than doubled to about 10 billion notes by March 2018. The Rs. 20 notes accounted for 9.8 percent of the total number of currency notes in circulation at the end of March 2018.

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