RBI to issue new Rs 10 note in chocolate brown colour. Here's Why!
RBI to issue new Rs 10 note in chocolate brown colour. Here's Why! India’s central bank will soon issue a new Rs 10 note in chocolate brown colour. The Reserve Bank of India (RBI) has already printed 1 billion pieces of the new note.
The design received the go-ahead from the government last week. Earlier in 2005, the central bank had changed the design of the old Rs 10 note. In August-17, RBI had introduced the new Rs 200 and Rs 50 notes under the Mahatma Gandhi series.
Value of digital transactions across the country has increased by 80% with the total amount expected to reach Rupees 1,800 crore in 2017-2018, official data suggests. The value of digital payments till October this year was at Rupees 1,000 crore, nearly equal to the value for entire 2016-2017.
According to the Ministry of Information Technology, digital payments registered Rs 136-138 crore on an average from June-August keeping on the trend from the beginning of the year.
The RBI had printed 16,957 million pieces of Rs 500 notes and 3,654 million pieces of Rs 2,000 notes as on December 8, according to information from the ministry. The total value of such notes amounts to Rs 15,787 billion.
“This means that the residual amount of high-value currency notes of Rs 2,463 billion may have been printed by the RBI but not supplied in the market” .
Further, the expert notes that the share of small currency notes in circulation has also increased. “This also means that the share of small currency notes in total currency in circulation now may have touched 35 percent in value terms,” the report said.
-PTC News
