The Reserve Bank of India (RBI) is all set to issue a new Rs 10 notes which is coming from the series of Mahatma Gandhi’s face.
RBI actually Issue the new Rs 10 Note which will be going to available in the Chocolate Brown Colour and base of the note is also in the chocolate brown color as the base. The new note wills also going to have the picture of the Konark Sun Temple.
The apex bank has already printed around 1 billion pieces which is in the Chocolate Brown color and this is the brand new note of the nation, as per people’s opinion this is the very familiar type of note anyway and fans are also aware of the same and about this matter.
RBI said the new denomination will be going to designed of the Sun Temple, Konark, on the turn round; showcase the country’s cultural heritage also. The note has other designs, geometric patterns which are said to have overall the same color scheme, both at the obverse and reverse, as per the statement.
The government already approved the design on last week. The change in design in the old Rs 10 note was done in 2005. Somehow the Reserved Bank Of India introduced the new Rs 200 and Rs 50 notes with the face or logo of the father of the nation, Mahatma Gandhi last year too.
This is the step to reintroduce lower currency notes in a new design which is arrived after the government’s plan to get rid of the fake currency note and all as per reports.
The Indian government already declared that demonetization to withdraw Rs 1,000 and Rs 500 currency notes, amounting to around 86% of the currency in circulation of Rs 17.9 trillion on 8 November 2016. Since then, RBI has replaced and substituted these with the new Rs 2000 notes and redesigned Rs 500 notes.
RBI has reportedly printed 16.96 billion pieces of Rs 500 notes and 3.6 billion pieces of Rs 2,000 notes as on December 8, as per the various reports and information given by the finance ministry in Lok Sabha. The value of those notes translates into Rs 15.79 trillion around completely as per reports.
On 4th November 2016, the RBI data show currency in circulation was Rs 16.71 trillion as on December 22. This is about 94.4% of the Rs 17.7 trillion that was in circulation in that time.
The annual report comes from the Reserved Bank Of India said for the fiscal 2016-17 which too showcase the volume of banknotes increased by 11.1% mostly, prior to this is because of the higher mixture of banknotes of lower denomination following demonetization.
The government’s rationale motive towards and behind the move is to check fake notes which were in good number jump since 2008.
All around as per reports, in 2008 the total 195,000 pieces in fiscal, the number of fake notes increased to 632,000 pieces in 2015-16.
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