India

New 100 rupee notes could be released in April

New 100 rupee notes could be released in April
Written by Abhishek Rana

A new scheme by RBI seemed to have reported that they’ll be printing new layouts for 100 rupees and that they’ll become available by April next year. The decision seems to have been made after the bank released 200 rupee notes that were bright yellow in color. There have been reports of banks asking other organizations to start testing the notes. Although they don’t seem to possess the currency, and the banks had to do much recaliberation of the ATM machines after the Prime Minister Narendra Modi’s screed of demonetization, which was a very cumbersome process.

There will be however, some dimensional similarity in the new 100 rupee notes that could actually save them from going through with the trouble of recaliberation of the ATM machines again. The whole process will take some time to take shape and it’ll be at least months until the banks are able to spread the money all over the market so that it can trickle into normal use.

Currently, India has denominations of Rs 1, 2, 5, 10, 20, 50, 100, 500 and 2000. And the RBI already released new fifty rupee notes in the beginning of the year. This process of releasing new designs for currency notes should be very profitable for the citizen and hopefully it is done in a less complicated manner that doesn’t cause trouble to them.

About the author

Abhishek Rana

Since my early childhood, I’ve loved writing, watching movies and having an opinion. Now, I do it professionally. Always looking for new ways to challenge myself.