RBI to introduce new one rupee currency note

The Reserve Bank of India (RBI) will soon introduce currency notes of one rupee denomination, the central bank confirmed in a press release on Tuesday. The notes, which have already been printed by the Government of India, are legal tender under the Coinage Act, 2011. The existing currency notes in this denomination in circulation will also continue to be legal tender, the RBI stated.

The new note will have an overall colour scheme of pink and green on the obverse and reverse, in combination with other colours. The note will have the bilingual signature of Shaktikanta Das, Secretary, Ministry of Finance. It will contain the words 'Government of India' and 'भारत सरकार' and have the replica of the new one rupee coin with the '₹' symbol of 2017. 'सत्‍यमेव जयते', the words printed on all of India's currency notes, will be featured as well.

The surrounding design of the note consists of a picture of 'Sagar Samrat', the oil exploration platform in Maharashtra. An inset letter in capitals, 'L' will also be printed on the note. Apart from this, the Ashoka Pillar, a hidden number '1' and the hidden word 'भारत' will be printed on the note.

Following demonetisation, which was announced by Prime Minister Narendra Modi last year in November, the RBI has released two other currency notes of the Rs 500 and Rs 2,000 denominations. Both were introduced to curb the circulation of fake currency. Apart from this, the central bank withdrew Rs 1,000 notes and the older version of the Rs 500 note from circulation.