New 20, 50 Rupee Notes To Be Out Soon: RBI
To mitigate problems caused due to the demonetization, the RBI is planning to rope in a new series of Rs. 20 and Rs. 50 notes into the market.
Hyderabad | 4th December 2016
To mitigate the problems caused due to the demonetization, the Reserve Bank of India (RBI) is planning to rope in a new series of Rs. 20 and Rs. 50 notes into the market.
The existing 20 and 50 rupee notes denomination would not be invalidated, and could still be used as usual, the RBI officials said. Despite pumping in liquid cash of Rs. 100 and Rs. 2,000 to a great extent across the nation, people are running helter-skelter to draw their money, in vain as banks and ATMs were running out of cash.
Keeping this persisting problem in view coupled with Opposition's rhetoric, the Centre through the RBI decided to release the two new notes.
However, there was also a strong demand from the public, employees, youth and students that the Centre should instead bring in Rs. 200 notes to solve the problem of hard cash (change).
According to information, the Centre instructed the RBI to print and distribute the two notes in adequate numbers to ease the panic among the people.
filed in: Demonetization, Bans, Economy, Money, Centre, Corruption, Banks, Currency, RBI