It would seem like the Centre is not done with its changes to India’s currency. Along with a new ₹100, ₹500, ₹2000, the RBI shall now shortly issue a new ₹50 note.

However, there is no need to worry about note exchanges. The RBI has made it clear that the current ₹50 denomination notes in circulation would continue to be legal tender.

The Reserve Bank of India (RBI) is gearing up to issue another set of new currency notes.

According to an RBI notification, the central bank would soon issue Rs 50 denomination bank notes with motifs of Hampi and portrait of Mahatma Gandhi in the front and a chariot at the back.

However, the current notes would continue to be legal tender.

(Photo Courtesy: RBI notification)

 

The security features of the note will match the ones in the already existing ₹500 and ₹2000 denomination notes.

The new note is in line with the government’s plan to ‘focus’ on lower denomination notes. Economic Affairs Secretary Shaktikanta Das confirmed the same earlier in the year and quashed rumours about a new Rs 1000 note.

 

 

In November 2016, new Rs 500 and Rs 2,000 bank notes were issued as part of Prime Minister Narendra Modi’s bid to curb the flow of black money in the economy. It drew the government criticism for not being adequately planned.

However, unlike the previous announcement where the old notes were invalidated, this current notes would continue to be legal tender.

https://www.thequint.com/business/2017/08/18/rbi-declares-new-50-rupee-notes

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