RBI to issue new Rs 50 notes shortly, old ones will remain legal tender

The Reserve Bank of India will shortly issue the new Rs 50 notes. All bank notes in the denomination of Rs 50 issued by the RBI in the earlier series will continue to be legal tender.

The new Rs 50 notes will have the motif of Hampi and a chariot on the reverse. The RBI says this would represent the heritage of the country.

In December 2016, the Reserve Bank of India had said that it will issue Rs 50 and Rs 20 denominations with numerals in ascending size in the number panels.

Ever since the government has announced in November 8, 2016, the RBI has introduced new notes of Rs 500 and also Rs 2000 in order to refill the circulation.

The demonetisation excercise was carried out to cut down on corruption and counterfeit currency and also to eleminate terror funding.

OneIndia News