RBI plans to issue new Rs 10 notes in brown colour | Current Affairs, Current Affairs 2018

RBI plans to issue new Rs 10 notes in brown colour

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The Reserve Bank of India (RBI) will soon be issuing new Rs 10 notes in chocolate brown colour.
According to an official source, the Rs 10 notes will feature Mahatma Gandhi and also bear the picture of Konark Sun Temple (Odissa). The central bank has already printed around 1 billion pieces of the new Rs 10 notes.
RBI had introduced the new Rs 200 and Rs 50 notes under the Mahatma Gandhi series. The move to reintroduce lower denomination notes in a new design comes after the government’s move to rework the currency mix in order to combat counterfeiting and promote a less-cash economy.
It should be noted that the government announced demonetisation to withdraw Rs 1,000 and Rs 500 currency notes, amounting to around 86% of the currency in circulation of Rs 17.9 trillion. Since then, RBI has replaced these with the new Rs 2000 notes and redesigned Rs 500 notes.
According to the information tabled in the Lok Sabha, RBI has printed 16.96 billion pieces of Rs 500 notes and 3.6 billion pieces of Rs 2000 notes as on December, 2017. The total value of such notes translates into Rs 15.79 trillion.

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