The Reserve Bank of India (RBI) will soon introduce currency notes of one rupee denomination, the central bank confirmed in a press release on Tuesday.
On Tuesday, in a press release, the central bank confirmed the news of "currency notes of one rupee denomination". The new one rupee currency note will have an overall colour scheme of pink and green, in combination with other colours. The Rs 500 currency note has the image of Red Fort printed on it.
In November 1994, printing of Re 1 note was stopped mainly due to higher cost and for freeing capacity to print currency notes of higher denomination.
This step of the Government should not worry the people as this is unlike the demonetisation process.
Following demonetisation, which was announced by Prime Minister Narendra Modi past year in November, the RBI has released two other currency notes of the Rs 500 and Rs 2,000 denominations. The new notes will also have bilingual signature of economic affairs secretary Shaktikanta Das and not the RBI governor, Urijit Patel. At present, one rupee coins are minted.
As mentioned in the picture, the new one rupee Indian currency will be with the watermarks of Ashoka Pillar and hidden number "1" in the centre and the hidden Hindi word भारत arranged vertically on the right-hand side of the note.
The ANI report said that the RBI is soon going to undertake this step and bring the one rupee denomination currency note into circulation, as the notes have already been published.