The Reserve Bank of India (RBI) is going to issue new Rs 10 notes under
the Mahatma Gandhi series with chocolate brown colour as the base.
The
new note will bear the picture of the Konark Sun Temple.
The RBI has already printed around 1 billion pieces of the new note, according to people familiar with the matter.
The design was approved by the government last week. The change in design in the old Rs 10 note was last made in 2005
In August 2017, RBI had introduced the new Rs 200 and Rs 50 notes under the Mahatma Gandhi series.
On November 08, 2016, the government announced demonetisation to withdraw
Rs 1,000 and Rs 500 currency notes, amounting to around 86% of the
currency in circulation of Rs 17.9 trillion. Since then, RBI has
replaced these with the new Rs 2000 notes and redesigned Rs 500 notes.
RBI has printed 16.96 billion pieces of Rs 500 notes and 3.6 billion pieces of Rs 2,000 notes as on December 08, 2017 according to information given by the finance ministry in Lok Sabha. The total value of such notes translates into Rs 15.79 trillion.
RBI data show currency in circulation was Rs 16.71 trillion as on December 22,2017
This is about 94.4% of the Rs 17.7 trillion that was in circulation on November 04,2016.
RBI’s annual report for fiscal 2016-17 also showed that the volume of banknotes increased by 11.1% mainly due to higher infusion of banknotes of lower denomination following demonetisation. The government’s rationale behind the move is to check fake notes which had seen a significant jump since 2008. From 195,000 pieces in fiscal year 2008, the number of counterfeit notes increased to 632,000 pieces in 2015-16.
The RBI has already printed around 1 billion pieces of the new note, according to people familiar with the matter.
The design was approved by the government last week. The change in design in the old Rs 10 note was last made in 2005
In August 2017, RBI had introduced the new Rs 200 and Rs 50 notes under the Mahatma Gandhi series.
RBI has printed 16.96 billion pieces of Rs 500 notes and 3.6 billion pieces of Rs 2,000 notes as on December 08, 2017 according to information given by the finance ministry in Lok Sabha. The total value of such notes translates into Rs 15.79 trillion.
RBI data show currency in circulation was Rs 16.71 trillion as on December 22,2017
This is about 94.4% of the Rs 17.7 trillion that was in circulation on November 04,2016.
RBI’s annual report for fiscal 2016-17 also showed that the volume of banknotes increased by 11.1% mainly due to higher infusion of banknotes of lower denomination following demonetisation. The government’s rationale behind the move is to check fake notes which had seen a significant jump since 2008. From 195,000 pieces in fiscal year 2008, the number of counterfeit notes increased to 632,000 pieces in 2015-16.
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