RBI to issue new Rs 100 notes in lavender colour, existing series to still be valid

business

Updated: Jul 19, 2018 15:40 IST

The Reserve Bank of India will shortly issue new Rs 100 denomination banknotes in the Mahatma Gandhi (new) series, the central bank said on Thursday.

The new denomination will have the motif of ‘Rani ki vav’ – a stepwell located on the banks of Saraswati river in Gujarat’s Patan – on the reverse, depicting the country’s cultural heritage. The base colour of the note is lavender. The note has other designs and geometric patterns aligning with the overall colour scheme on both sides.

The new banknote will also be smaller in dimensions (66 mm × 142 mm) compared to the currently circulated notes (73mm X 157 mm).

All Rs 100 banknotes issued by the Reserve Bank in the earlier series will also continue to be legal tender.

As is normal, when a new design of banknote is introduced, printing and supply of these notes for distribution to public through the banking channel will gradually increase, the RBI said.

In October last year, the central bank had said it would start printing the new banknotes around April this year, after it finishes printing the new Rs 200 notes.