25 Dec 2018 15:26 IST

RBI to soon release new ₹20 bank note

The ₹20 notes accounted for 9.8% of the total number of notes in circulation at the end of March 2018

The Reserve Bank of India (RBI) will soon introduce a new ₹20 currency note with additional features, according to a document of the central bank.

The central bank has already issued new look currency notes in the denominations of ₹10, ₹50, ₹100, and ₹500, besides introducing ₹200 and ₹2,000 bank notes.

The new look notes are being introduced since November 2016 under Mahatma Gandhi (New) series. These are different in size and design compared to the notes issued previously.

The currency notes, except for banned ₹500 and ₹1,000, issued under old series continue to remain legal tender.

According to the RBI data bank, there were 4.92 billion pieces of ₹20 note in circulation as on March 31, 2016. The number more than doubled to about 10 billion pieces by March 2018.

The ₹20 notes accounted for 9.8 per cent of the total number of currency notes in circulation at the end of March 2018.