A photo of a new Rs 5 note has gone viral on the internet. The note is Yellow in colour. The image has created ripples on the internet, however it is unclear whether the image is fake or not. The image of the note that has gone viral bears the portrait of Mahatma Gandhi in the center and has the serial number ‘7AL 002285’. The currency ₹ 5 is mentioned on the right and ₹ is mentioned on the left. The note also bears the signature of RBI Governor Urjit R Patel. Old Rs 5 notes are still in circulation in the market but their use was reduced after the Rs 5 coins were introduced.

Earlier, Reserve Bank of India issued new denominations and currency notes after Prime Minister Narendra Modi announced demonetisation on November 8, 2016. After demonetisation which banned the circulation of old Rs 500 and Rs 1,000 notes the first new note issued was Rs 2,000. Once the Rs 2,000 notes came into the market in abundance new Rs 500 were also introduced. The move of introducing the new Rs 5 note might come on the heels of Prime Minister Narendra Modi’s view that the country needs smaller denomination notes more than the higher denominations.

Year 2017 also saw some new notes of Rs 200 and Rs 50 introduced to the Indian economy and the new Rs 5 note might wrap up the year of new currencies. The Rs 200 denomination bank note in the Mahatma Gandhi (New) series bears the signature of RBI Governor Urjit R. Patel. It has the motif of the Sanchi Stupa on the reverse while its base colour is bright yellow. The note has other designs and geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.

The Rs 50 note is 66 mm x 135 mm in dimension and is light blue in colour. The portrait of Mahatma Gandhi is on the centre and the note bears Ashoka Pillar emblem on the right. The new denomination notes that were introduced after demonetisation bear the signature of RBI Governor Urjit R Patel. The move of introduction of new smaller denomination aims at increasing the circulation of smaller denomination notes. The new Rs 5 note also bears the signature of the RBI Governor.

The RBI has also started field trials of plastic notes of Rs 10 as plastic notes are expected to last longer than cotton substrate based bank notes.

(NewsX cannot verify the veracity of the viral image)

First Published | 4 October 2017 12:44 PM
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