The Reserve Bank of India (RBI) will now issue new bank notes of Rs 50 denomination. The new notes are being made under the Mahatma Gandhi series.
They will also have the motif of 'Hampi with Chariot'.
The new fluorescent notes will bear the signature of RBI governor Urjit Patel. The announcement was made in a notification released by the RBI.
"The Reserve Bank of India will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of RBI Governor Urjit R Patel. The new denomination has motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage. The base colour of the note is Fluorescent Blue,” RBI said in a statement on Friday.
The base colour of the note is fluorescent blue. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. Dimension of the banknote will be 66 mm x 135 mm. RBI had said in December last year that it would issue new currency notes of Rs 50 and Rs 20.
All the Rs 50 banknotes issued by RBI in the earlier series will continue to be legal tender.
The backside of the image would bear the Motif of Hampi with Chariot, Swachh Bharat logo with slogan and Year of printing of the note on the left.
In the front, the currency note would show the regular salient features of Mahatma Gandhi portrait and electrotype (50) watermarks, see through register with denominational numeral 50, Windowed demetalised security thread with inscriptions ‘भारत’ and RBI, Ashoka Pillar emblem on the right and Number panel with numerals growing from small to big on the top left side and bottom right side, among other features.
The new notes come nine months after the country grappled with a cash crunch following the shock recall of Rs 500 and Rs 1000 notes in a bid to drain illegal cash from the economy.
This is the third denomination that has been revamped since the government's demonetisation on November 8 last year. Earlier, new notes of Rs 2,000 and Rs 500 notes were introduced.