Source: News Bharati English04 Dec 2016 17:13:34
New Delhi, Dec 4: The Reserve Bank of India (RBI) will be soon releasing new currency notes valued at Rs 20 and Rs 50. The old note, however, will continue to be valid.
The RBI has taken this step in less than a month since the Government scrapped the high denomination notes of Rs 500 and Rs 1000 on November 8.
Documents posted on the Reserve Bank of India's website said the RBI will shortly issue Rs 50 bank notes without an inset letter in both the number panels and will carry the signature of governor Urjit Patel.
The Rs 20 note will have the insert letter L in both number panels and will carry Patel's signature. The security features of both banknotes will continue to be similar to the currency in circulation at present.
Since then, the people have queued before the banks and ATMs to get the cash. It developed into a full-blown political controversy, with the opposition sharpening its attacks against the government which each passing day.
PM Modi has said that a survey on the notes ban conducted on his app has proved that the people back his effort to crack down on black money and corruption. The opposition has dismissed the survey as "fake and sponsored".