India’s central bank, the Reserve Bank of India will
again put in circulation rupee one notes soon, ending a twenty year moratorium.
In a release, RBI said “These currency notes are
legal tender as provided in the Coinage Act 2011. The existing currency notes
in this denomination in circulation will also continue to be a legal tender,”
The new currency note will be predominantly pink green
on obverse and reverse in combination with other colours, the RBI said.
“The RBI will soon put in circulation currency notes
in one rupee denomination. The notes will be printed by the Government of
India,” the Reserve Bank said.
At present, one rupee coins are minted. One rupee
note or coin is issued by the Government of India.
Unlike other currency notes which the bear signature
of RBI Governor, the one rupee note will have signature of the Finance
Secretary.
In November 1994, printing of one rupee note was
stopped mainly due to higher cost and for freeing capacity to print currency
notes of higher denomination.
Printing of two and five rupee notes too were
discontinued in 1995. Since then, only coins have been issued for these
denominations. Older notes are still in circulation and remain legal tender.
Other paper currency notes currently being printed
are Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000.
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