After surgical strike on Rs 500 and Rs 1,000 notes, RBI has turned towards the Rs 100 notes now. Yes, as per a recent announcement by RBI, new notes of Rs 100 would be issued in the Mahatma Gandhi Series-2005 without inset letter in both the numbering panels.
However, there is no need to worry because, you can still use your old Rs 100 notes. RBI announced that old Rs 100 currency would be considered as legal tender.
After the demonetization move, banks have been facing cash shortage as it is taking time to print new Rs 500 and Rs 2000 notes and demands of people aren’t being met.
There are also reports that state that traders and consumers are hoarding these notes and aren’t giving them back in circulation. Out of Rs 20, Rs 50, Rs 100 and Rs 2000 currency, notes of Rs 100 account for just 16 percent of the total currency in circulation.
ATM machines are being filled with Rs 100 notes, but they get over immediately. Moreover, Government can’t change thesenotes, because already the new Rs 500 and Rs 2000 notes are being changed and public is facing hassles.
Hence, RBI is going to issue new notes of Rs 100 and this is indeed going to provide major relief.
Couple of days back, RBI also made an announcement of issuing new Rs 20 and Rs 50 notes in the Mahatma Gandhi Series-2005, without an inset letter in both the number panels. However, even the old ones would be considered as legal tender.
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