8th November 2016 has been quite important in the history of India and the Reserve Bank of India. The government announced demonetization to withdraw Rs 1000 and Rs 500 notes, amounting to around 86% of the currency in circulation. A brave move indeed by the BJP government against black money and money laundering!
After Rs 200 and Rs 50 new notes, now Rs 10 note is all set to get a new face with a new colour scheme. The new note will be issued under existing Mahatma Gandhi series and will be of chocolate brown colour.
A new edition to the note is the picture of Konark Sun Temple. The go ahead design which received the government approval recently has gone into print.
Around 1 billion pieces of new 10 rupee note has already been printed by the apex bank. First time since 2005, Rs 10 note is getting a makeover now. The note has security features such as water mark, security threat, latent image of denomination numeral, number panels, see through register, electrotype, bleed lines and features designed for the visually impaired citizens.
Earlier, the RBI had introduced new Rs 50 and Rs 200 notes under Mahatma Gandhi Series. The new set of currency notes aims to showcase India’s diverse and rich culture.
The struggle for freedom and the proud achievements over the years, by the brave hearts of the nation, is an important factor behind the new look of the currency notes.
Apart from the new theme of India’s heritage and diversity sites on these note series, the new currencies are way different from the old ones. Another new element added in these notes are numerical in Devnagari Script and the symbol of the Swach Bharat Abhiyan. The new notes also have myriad, geometric figures and incarnate forms.
RBI’s annual report for the Fiscal 2016-17 showed that the volume of banknotes increased by 11.1% mainly due to higher infusion of notes of lower denomination following demonetisation.
The government’s rationale behind this move was to check the fake notes which had a significant jump from since 2008. From 195000 pieces in fiscal year 2008, the number of counterfeit notes increased to 632000 pieces in 2015-16.
Chocolate being everyone’s favourite, let’s now see, what difference these chocolate coloured Rs10 note has to bring!