RBI to issue new Rs 50 and Rs 20 notes, old currency notes continue to be legal tender

The Reserve bank of India will soon issue new Rs 20 and Rs 50 notes in the Mahatma Gandhi series-2005.

The Reserve Bank of India will shortly issue ₹ 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.

The year of printing '2016' printed on the reverse of the banknote, RBI said in a release. 

"The design and security features of these banknotes will be similar to the banknotes of Rs 20 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005." RBI said in a release. 

All the banknotes in the denomination of ₹ 50 issued by the Bank in the past will continue to be legal tender.