New ₹50 note to be issued soon

The Reserve Bank of India (or RBI) is continuing to release rupee banknotes in the new Mahatma Gandhi series.

Now, the Reserve Bank will be releasing a new version of the ₹50 note, which will be printed in fluorescent blue colour and with a picture of Gandhi stamped on the front of it.

The new banknotes will be sixty-six millimetres in width and one hundred and thirty-five millimetres in length. The height is the same as the new ₹500 banknotes and the ₹2,000 banknotes, but the width is slightly less than them.

There are also a couple of new features branded on this new banknote. There will be a motif of Hampi and the chariot printed on the back, as well as the Swachh Bharat logo and its slogan printed on the left of the motif.

Although the Reserve Bank officially announced this note last Friday, images of it were shown on social media some time beforehand.

The RBI did not give any further information about the upcoming ₹200 banknote, but they did provide the details of the new security highlights of the upcoming ₹50 banknote.

Surprisingly, the RBI announced that all of the earlier ₹50 banknotes will still be able to be used legally. This may be easier for direct cash payments and exchanges, but it will certainly be more difficult for ATMs.

However, it may not be as much of a problem as expected. The CEO of the India NCR, Navroze Dastur, announced that most banks have stopped printing the old ₹50 notes.

However, should there be any ATM-related issues with old ₹50 notes versus the new ones, Dastur said that there will have to be separate ATM cassettes for old notes and new notes.

This new ₹50 note will continue the re-monetization of India, working towards a better and cleaner Indian economy.

Image by Prasanta Sahoo from Pixabay (Free for commercial use)

Image Reference: https://pixabay.com/photos/note-indian-rupees-currency-cash-4128733/