The Reserve Bank of India (RBI) post the demonetisation drive in November 2016 introduced a number of new currency notes in the country. To be precise the Modi government so far has launched four new notes — Rs 2000, Rs 500, Rs 200, and Rs 50. The new denomination Rs 2000 note has been in circulation since 10 November 2016. It is the highest currency note printed by RBI that is in active circulation. The Rs 2000 note was closely followed by the bringing out of the newly designed Rs 500 note. The two notes to be recently brought into circulation are the Rs 50 and Rs 200 notes but their circulation is yet to increase.
As per reports, the RBI will begin its exercise of printing the new Rs 100 note by April 2018. Though the design of the new Rs 100 note will resemble the Mahatma Gandhi new series of banknotes, its size will remain the same as the old one. RBI has decided that the introduction of the new note will not result in the discontinuation of the old ones though they plan to gradually wean them out. With the size of the new Rs 100 banknote remaining the same, recalibration of the ATMs will not be required.
To rein in hoarders and black marketers, governments and apex banks across the globe from time to time bring new designed notes into circulation. During the currency scrapping of 2016 in India, the government tried to crackdown on black money by junking the old notes of Rs 500 and Rs 1000.
The Finance Ministry of India plans to introduce commemorative coins of Rs 100 for the first time ever in the history of the country. The new coin will be launched to mark the birth anniversary of MG Ramachandran, founder of Tamil Nadu-based political party AIADMK. The ministry clarified that the Rs 100 coins will ‘not come under public use’.