2017-10-05 Thu

There have been reports that the Government might soon release new 100 rupees banknotes and coins. Four banknotes have already been changed as an effort to get rid of fake currency. After old 500 and 100 rupees notes were banned in November 2016, new 2,000 rupees notes and 500 rupees notes were introduced. 200 rupees notes were introduced recently. The latest addiction has been the revamped 50 rupees note. The new Rs 100 notes in Mahatma Gandhi (New) Series is expected to be released from the first month of fiscal year FY19 or April 2018. The report says that old 100 rupees notes would be gradually withdrawn from circulation. Size and dimensions would remain the same so that ATMs can operate without any revised calibrations.

The RBI states that Introduction of new notes has been based on various factors like ease of transaction, replacement of soiled banknotes, inflation and the need to combat counterfeiting. As per a notification by Government of India on 12th September, Rs 100 coins will be launched in two formats, one with the mark of Dr. M. S. Subbulakshmi and the second one celebrating Dr. M.G. Ramachandran Birth Centenary.