The demonetisation introduced new Rs.500 and Rs.2000 currency notes and the scrapping of Rs.1000 notes. Now it seems that the RBI is set to continue enhancing the security features of Rs.100 notes as well.
RBI has decided to issue new Rs.100 notes in the Mahatma Gandhi Series-2005 WITHOUT inset letter in both the numbering panels.
The inset letter introduced in the series was the letter ‘L’. The reverse of the banknote will have ‘2016’ printed on it, while the note itself will bear the signature of RBI Governor Urjit Patel.
The good news is that the all Rs.100 notes will remain legal tender, even if they are old.
Notes with ascending size of numerals in the number panels but without bleed lines and enlarged identification mark have been issued too. They too will remain in circulation. Unlike the new Rs.500 notes, the new Rs.100 notes will not have the drastic change in the look.
In the initial days banks witnessed long queues of customers who sought exchanging of scrapped notes or depositing them. A shortage of cash has now hit the banks. A high number of customers are unable to withdraw cash because ATMs and banks are running dry.
RBI’s new move of issuing new Rs.100 notes without scrapping the old ones will help in easing this situation.