The Indian government will introduce Rs 1,000 notes in a few months and also issue new series of lower denomination expenses with increased security features.
The government had on Tuesday demonetised the Rs 500 and Rs 1,000 notes, already distributed, as part of its efforts to secure down against the black money, fake currency, and terror financing. These are being replaced by new currency bills of Rs 500 and Rs 2, 000.
“In a few months, Rs 1,000 notes with extra security features will be into the market, ” Financial Affairs Secretary Shaktikanta Das said while addressing the Economic Editor’s Conference in New Delhi on Thursday night.
The currency notes of the lower denomination of Rs 100 and Rs 50 will continue to be the “legal tender”, this individual said, adding the Reserve Bank will come away with new series of notes with security features and design.
The RBI, repeatedly, has been presenting new series of our currency notes with the new design and increased security features.
Following the demonetization of the currency notes of Rs 500 and Rs 1, 000, uses Thursday night started distributing new records of Rs 500 and Rs 2, 000.
The new Rs 500 banknotes have extra security features besides having peculiar color, theme, and size which differentiate the new expenses from the earlier series.