From 10,20,50,100 to 500 and until demonetisation, Rs 1,000 was a generally used banknote by most of us, proper? A few of us could have additionally seen some lesser-known banknotes such because the Rs 1, Rs 2 and Rs 5 notes.
After demonetisation, new Rs 500 notes and a wholly new denomination of Rs 2,000 had been launched. However has the Rs 2,000 observe been the best denomination of banknotes printed by the Reserve Financial institution of India?
Nicely, to the shock of lots of you, it’s not! Whereas it’s true that presently Rs 2,000 is the best denomination of banknotes in circulation, the best denomination of banknotes for our forex, the Indian rupee, was Rs 10,000!
Sure, you learn that proper.
In keeping with the Reserve Financial institution of India web site, the best denomination observe ever printed by the Reserve Financial institution of India was the Rs 10,000 observe in 1938. It was demonetised in January 1946 however was reintroduced in 1954. It was lastly demonetised once more within the yr 1978.
What denominations of banknotes are presently in circulation?
In keeping with RBI, banknotes are presently being issued within the denominations of ₹10, ₹20, ₹50, ₹100, ₹200, ₹500 and ₹2000 in India., These notes are known as financial institution notes as a result of they’re issued by the Reserve Financial institution of India.
Printing of ₹2 and ₹5 notes has been stopped And these denominations have been coined as a consequence of the price of printing and servicing these banknotes not commensurate with their life. Nevertheless, such banknotes issued earlier can nonetheless be present in circulation and these banknotes proceed to be authorized tender. ₹1 notes are issued by the Authorities of India on occasion and such notes together with these issued earlier proceed to be authorized tender for transactions.
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General, during which denomination notes will be issued?
In keeping with RBI, as per Part 24 of the Reserve Financial institution of India Act, 1934, banknotes shall be of denominations of two rupees, 5 rupees, ten rupees, twenty rupees, fifty rupees, 100 rupees, 5 hundred rupees. one thousand rupees, 5 thousand rupees and ten thousand rupees or such different communal worth not exceeding ten thousand rupees, because the Central Authorities could, on the advice of the Central Board, specify on this behalf.
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