A new and latest Rs 50 note is likely to be issued soon by Reserve Bank of India (RBI) under the Mahatma Gandhi series, the central bank announced on Friday in a release.
The notification issued by the RBI reads, “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.”
The notes will bear the signature of RBI governor Urjit Patel and is of 66 mm x 135 mm in dimension.
“The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse,” the RBI said, adding, “All the banknotes in the denomination of Rs 50 issued by the Bank in the past will continue to be legal tender.”
Recently there were reports that RBI has stopped printing Rs 2,000 notes and has stepped up production of notes of other denominations.
Earlier in November 2016, Prime Minister Narendra Modi in a massive step to crackdown on black money, corruption, banned Rs 500 and Rs 1000 notes. The two big value currency notes were replaced by new Rs 500 and Rs 2,000 notes.