The Reserve Bank has the sole authority to issue banknotes in India. Reserve Bank, like other central banks the world over, changes the design of banknotes from time to time. The Reserve Bank has introduced banknotes in the Mahatma Gandhi Series since 1996 and has so far issued notes in the denominations of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100.
The new 20-rupee note will have additional features compared with the existing currency note, Press Trust of India reported. According to RBI data, the Rs 20 notes account for about 9.8 per cent of the total currency in circulation as of March 2018.
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The rupee on Tuesday surged by 49 paise to close at 75.64 against the US dollar, following a rally in stock markets. At the interbank foreign exchange, the rupee opened at 75.92 and gained further.
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New Re 1 Note India 2020: The Union Ministry of Finance has notified 'Printing of One Rupee Currency Notes Rules, 2020' vide Gazzette Notification G.S.R. 95(E) dated February 7, 202.
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