New Rs 100 note coming in April, old notes to be withdrawn gradually
The Reserve Bank of India (RBI) will soon release Rs 100 denomination banknotes in the Mahatma Gandhi (New) Series, having the signature of Governor Urjit R Patel. However, the Rs 100 banknotes in the earlier series will continue to be a legal tender. According to Mint, RBI will start printing new Rs 100 notes in April (once Rs 200 notes have been printed), while the existing notes will be withdrawn from the market gradually without causing any disruption. This is the fourth denomination that has been revamped since the government's demonetization on November 8 last year. Earlier, new notes of Rs 2,000, Rs 500 and Rs 200 notes were introduced.
The dimensions of new Rs 100 notes will not change. Previously, the new Rs 2,000 and Rs 500 notes caused a lot of trouble to the RBI and other stakeholders as ATM machines had to be recalibrated to accommodate the new dimension of the currency notes.