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RBI to introduce new Rs 100 notes shortly, old notes to remain legal

By Vikas
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    New Delhi, July 19: The Reserve Bank of India (RBI) will issue new Rs 100 notes which would be lavender in colour. To allay the fears that the old notes could be demonetised, the RBI has said that the existing Rs 100 notes would continue to remain legal tender.

    Reserve Bank of India (RBI)

    The new notes are going to be part of Mahatma Gandhi (New) Series and will have 'Rani- ki-Vav' printed at the backside.

    Rani ki vav is an intricately constructed stepwell situated in the town of Patan in Gujarat. It was added to the list of UNESCO's World Heritage Sites on 22 June 2014.

    New Rs 100 note (Front)

    New Rs 100 note (Front)

    "Will shortly issue Rs 100 denomination banknotes .This new denomination has motif of "RANI KI VAV" on the reverse, depicting the country's cultural heritage. The base colour of the note is Lavender. The existing 100 rupee note will continue to be legal tender," news agency ANI quoted RBI as saying.

    New Rs 100 note (Back)

    New Rs 100 note (Back)

    The new Rs 100 note is being printed at Dewas-based Bank Note Press and might be launched in August or by September, said reports. The may have to re-calibrate their ATMs as the new notes are said to of slightly different diamensions than the existing ones.

    Last year, new bright yellow coloured Rs 200 notes were also issued by the RBI.

    Old demonetised notes

    Old demonetised notes

    In November 2016, Prime Minister Narendra Modi had announced that then valid Rs 500 and Rs 1,000 notes would cease to be legal tenders. After this, new Rs 500 and Rs 2,000 notes were introduced to replace them. Rs 1,000 notes were stopped completely.

    (Images - ANI/Twitter)

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