RBI to issue new Rs100 notes in 2018, after Rs200 notes this year

The Reserve Bank of India (RBI) is likely to start printing new Rs100 notes around April next year, after it completes printing of the new Rs200 denomination currency notes.

The old Rs100 notes, however, will continue to be in circulation and will be legal tender even after the new notes are issued, and these will only be phased out when they get soiled or torn, the central bank stated.

Reports said the new Rs100 notes are likely to bear the same dimension and size to avoid re-calibration of ATMs.

However, introduction of Rs200 notes will require recalibration of ATMs and some banks have, in fact, asked the ATM companies to begin testing the Rs200 note for recalibration of the machines even though they are yet to receive the new notes.

The RBI launched the bright yellow Rs200 notes in August, but reports say, the exercise of putting the noted into circulation is likely to take around six more months.

The RBI had recently introduced Rs50 note with a new look and additional security features.

With the introduction of Rs200 notes the country has currency denominations of Re1, Rs2, Rs5, Rs10, Rs20, Rs50,  Rs100, Rs200, Rs500 and Rs2,000 in circulation.