The Reserve Bank of India (RBI) has announced it will issue new Rs. 100 notes shortly.
The apex bank said the new notes will have “enlarged identification features”.
The new Rs. 100 denomination banknotes will be in the Mahatma Gandhi Series-2005 without any inset letter in both the numbering panels.
The RBI further said all the Rs. 100 notes issued in the past will continue to be legal tender.
Besides the new Rs. 100 notes, the RBI said it will also issue smaller denomination notes, i.e. Rs. 20 and Rs. 50 denomination notes.
The issues of smaller denomination notes will bring a huge relief to many as most of the ATMs are currently dispensing only Rs. 2000 notes which have a very limited acceptability in the market.
With the abolishing of Rs. 500 and Rs. 1000 notes, almost 86% of the notes in circulation were scrapped, pushing the economy into a turmoil.