New ₹100 notes coming next year, printing from April
NEWDELHI: The RBI is expected to start printing redesigned ₹100 currency notes around April next year, sources in the central bank have said.
Printing for the new notes, one of the most common denominations in the country, will begin after presses finish printing the new ₹200 bank note by the end of the financial year in March.
The existing ₹100 currency notes will continue to be in the system and will be withdrawn gradually without any disruption, a central bank official said.
NEW DELHI: The Reserve Bank of India (RBI) is expected to start printing redesigned 100 rupee banknotes around April next year, sources in the central bank have said. Printing of the notes will begin after the central bank presses finish printing the new 200 rupee notes by March.
The existing 100 rupee notes will be withdrawn gradually without any disruption, the central bank official said, requesting anonymity.
The size and dimensions of the new notes will be similar to the old notes so that ATMs can dispense the new notes without any alterations. Of the four cassettes, or boxes, in an ATM, only one is used for 100 rupee notes.
Redesigning currency notes from time to time help in eliminating circulation of fake notes. RBI recently redesigned the 50-rupee note to add security features.
India banned the old 500- and 1000-rupee denomination bank notes in November in an attempt to flush out undeclared wealth.
In December, RBI officials had said that all currency notes will be redesigned.
Since then, the government has changed the 500 and 50 rupee notes, and introduced new denominations of 200 and 2000.
Sources added the exercise of dispensing the 200 rupee notes through ATMs is likely to take around six months. Their printing will depend on the demand and feedback received from the select bank branches that have started dispensing the new notes.
According to a State Bank of India report, 43.6% of the total cash circulation is in 500 rupee notes while 100 rupee notes account for just over 20%.