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New Rs.10 is all set to release

The Reserve Bank of India will  launch brand new rupees 10 notes,soon, say sources close to RBI.
The new note will have chocolate brown color and RBI governor Urjit Patel’s sign on it.The Mahatma Gandhi series note will have Konark Sun temple in the background and with inset letter ‘L’ in both the number panel. Around 1 billion copies are printed,say officials familiar with this activity.
Why Modi government is promoting small denominations? Will the old 10 notes get legal validity?

Since the demonetization drive on November 8,2016,the Modi government is trying to promote digital transactions. Rs.1000 and Rs.500 belonged to Mahatma Gandhi series were declared invalid in the historical financial reformation.

However,Rs.2000 note has been introduced to face the currency crunch.

The government’s declared policy is to introduce cash-less economy to get rid of black money and counterfeiting of currency.

RBI sources report withdrawal of Rs.2000 notes.

When small denomination currencies rule the market, big money dealers will definitely move to online transaction.

The running Rs.10 notes will have legal validity even after the introduction of the new 10 rupees currency.

 

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