New Rs 50 notes surface on social media: Here's what they look like

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Speculations are rife once again over release of new currency notes, and this time it is Rs 50. The lower denomination note made headlines after Rs 50 currency notes in new design and serial number were spotted on social media platforms earlier today.

A radical change in the colour scheme is the first thing to pop out in the leaked images seen online. These Rs 50 notes sport a bright turquoise colour, as opposed to the drab brownish shade seen on the ones presently in circulation. As for the finer details, the alleged new Rs 50 notes will bear the Mahatama Gandhi 2005 series and signature of Urjit Patel, the incumbent Governor of Reserve Bank of India (RBI).

Patel had promised to launch new Rs 50 notes last year. "The Reserve Bank will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr Urjit R Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote," he had stated.

The RBI has not confirmed printing or releasing these new Rs 50 notes, though, raising questions on the authenticity of these images. The Hindu Business Line had even stated that the reverse of the note will have a temple from South India, which again could not be confirmed, as the images only show the front of the note

The central bank had already issued new batches of Rs 500 in June with inset letter 'A' and Rs 20 notes in July with inset letter 'S'. These also bore the new Mahatama Gandhi series and Patel's signature.

Moreover, RBI has reportedly stopped printing Rs 2000 notes and ramped up the printing of new batches of Rs 500 notes in its place. The central bank is also set to introduce new note of denomination Rs 200 shortly. The Rs 2000 notes in circulation will continue to be legal tender, though.

While declaring devaluation of old high denomination notes in November last year, Prime Minister Narendra Modi had declared that new Rs 50 and Rs 20 will also be released in time, with number panels having numerical in ascending sizes, like the new Rs 500 and Rs 2000 notes, and the intaglio printing.

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RBI To Introduce New 50 Rupee Note: Here's How It's Going To Look

"The new denomination has motif of Hampi with chariot on the reverse, depicting the country's cultural heritage. The base colour of the note is fluorescent blue," the central bank said in a statement.

 

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MUMBAI:  The Reserve Bank of India (RBI) today said it will soon issue a Rs. 50 currency note in the new Mahatma Gandhi Series, which will be fluorescent blue in colour.

"The new denomination has motif of Hampi with chariot on the reverse, depicting the country's cultural heritage. The base colour of the note is fluorescent blue," the central bank said in a statement.
 

The bank notes of Rs. 50 denomination issued by the Reserve Bank in the earlier series will continue to be legal tender, it said.

The note has other designs, with geometric patterns aligning with the overall colour scheme, both at the obverse and reverse of the note.

The dimension of the bank note will be 66 mm x 135 mm, the RBI said.

The Rs. 50 denomination bank notes in the new series will bear the signature of RBI Governor Urjit R Patel.