New `10 notes

Banking Frontiers - - Regulator -

The Re­serve Bank of In­dia is com­ing out with new `10 notes un­der the Ma­hatma Gandhi se­ries. The notes would have choco­late brown base color and will bear the pic­ture of the Konark Sun Tem­ple. The de­sign has been ap­proved by the gov­ern­ment. The change in de­sign in the old `10 note was last made in 2005. The new notes are part of the gov­ern­ment’s ini­tia­tive in fight­ing coun­ter­feit­ing of cur­rency. Mean­while, the RBI has told banks to re­cal­i­brate ATMs to en­sure that more num­ber of the `200 de­nom­i­na­tion note can dis­pensed to the gen­eral pub­lic. This is to en­sure that the gen­eral pub­lic has more ac­cess to lower de­nom­i­na­tion notes. Ex­perts felt it would take nearly 6 months to fully im­ple­ment the di­rec­tive.

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