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Demonetisation: Reserve Bank of India to issue new Rs 100 banknotes

Demonetisation: Reserve Bank of India to issue new Rs 100 banknotes

The Reserve Bank of India (RBI) is ready to issue fresh Rs 100 banknotes in the Mahatma Gandhi Series-2005 without inset letter in both the numbering panels, bearing the signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India.

The old Rs 100 notes will, though, continue as legal tender, the Reserve Bank said.

In the Mahatma Gandhi Series-2005 the Reserve Bank of India will shortly issue Rs 100 denomination banknotes, without inset letter in both the numbering boards, bearing the signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing ‘2016’ printed on the reverse of the note, the central bank said in a report.

Following the demonetisation move by the government of India, banks are reportedly running short of cash due to shortage of the new Rs 500 and Rs 2000 notes.

The Rs 100 notes have been distributed largely via ATMs but they get over very soon.

And while the new Rs 500 and Rs 2000 notes have been made available for the public, it is reportedly very tough to get changes for them in Rs 100 notes.

Thus, the Reserve Bank has decided to issue fresh Rs 100 banknotes which could be a major comfort for the public.

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