Ever since the current government went on revamp mode for the currency notes in our wallet, our wallets have simply turned colourful.
The year 2017 gifted us a new genre of chocolate, the ruby chocolate, now in 2018, the Reserve Bank of India is gifting us another chocolate in the form of chocolate brown coloured Rs. 10 notes. Ever since the current government went on revamp mode for the currency notes in our wallet, our wallets have simply turned colourful.
Recently released images by the RBI said the new notes will shortly be put in circulation but the previous notes will continue to be legal tenders.
The Livemint reported that the RBI is set to announce new Rs. 10 notes in chocolate brown colour. Close to 1 billion pieces of the new design has already been printed under the Mahatma Gandhi currency series. The notes will even flaunt a picture of the Konark Sun Temple. The Rs. 10 notes was last given a makeover in 2005.
The government’s move comes after a series of changes in our currencies, the biggest being demonetisation which lead to withdrawal of Rs 500 and Rs 1000 notes in circulation. The notes which stood for 86% of the money in circulation, saw the Rs 1000 notes being replaced by Rs 2000 notes in an effort to counter fake currencies.
Ever since the demonetisation announcement, our wallet residents have seen newer hues like, magenta for Rs. 2000, stone grey for Rs 500, bright yellow for Rs. 200, fluorescent blue for Rs. 50 and now a chocolate brown for Rs 10.
After having done the makeover for higher denominations, the trend has now trickled down to lower denominations, all for the purpose of fighting counterfeits as per the government. RBI data shows currency in circulation on Dec 22 was Rs 16.71 trillion which is about 94.4% of the Rs 17.7 trillion that was in circulation on 4th November 2016.