Soon RBI [Reserve Bank of India] is going to release the new currency note for Rs. 100. After RBI stops printing Rs. 200 denomination notes around March 2018, RBI will begin to print the new Rs. 100 denomination note. The new Rs 100 banknotes are going to be released in the Mahatma Gandhi series, and is designed with the signature of Governor Urjit R Patel.
After the launch of the new Rs. 200 denomination note by RBI this August, now RBI is full set to launch the new Rs. 100 note next year around April. This is the fourth denomination that RBI has changed so far. Earlier, the distribution of new Rs. 2,000 and Rs. 500 notes caused a chaos among the banks and people, RBI is trying to launch the new Rs. 100 denomination smoothly.
RBI to Retain the Size and Dimensions of The new Rs. 100 Note
After planning to launch the new currency note for Rs. 100, RBI has decided that the size and dimension of the note will be kept same. After experiencing a challenge in calibrating the ATMs to fit new Rs. 2,000 and Rs. 500 notes, RBI seems to keep this time more direct and easy. The new currency notes are designed with the motto of eliminating the circulation of fake notes. Though the design of Rs. 100 is going to change, still, the size and dimensions will remain similar so, that distribution of the new notes can be carried out smoothly through ATMs without redesigning them said the sources from RBI.
Existing Rs. 100 Currency Notes will Still be A Legal Tender, Says RBI
As per the RBI sources, the launch of new notes of the denomination of Rs. 100 will not affect the existing legal tender. Also, it is said that the old Rs. 100 notes will be withdrawn gradually without creating a mess.
Rs. 100 note redesigning will be initiated after RBI is done printing of Rs. 200 notes around March 2018. It is also said that the new currency note of Rs. 100 is to be designed having same size and dimensions making it compatible with the existing design of ATMs. Not only this improves the distribution mechanism but will also help in easing the process.
Source – Business Standard
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