The Reserve Bank of India (RBI) will shortly issue new Rs 10 notes under the Mahatma Gandhi series featuring Konark Sun Temple.
According to several media reports, the RBI has already printed 1 billion pieces of the brown chocolate colour Rs 10 notes carrying the picture of the Odisha’s architectural marvel.
The design received the go-ahead from the government last week. The change in design in the old Rs 10 note was last made in 2005. In August last year, RBI had introduced the new Rs 200 and Rs 50 notes under the Mahatma Gandhi series.
The move to reintroduce lower denomination notes in a new design comes after the government’s move to rework the currency mix in order to combat counterfeiting and promote a less-cash economy.
“The idea is to increase supply of lower denomination to encourage day to day transactions and for larger transactions, people should move to digital mode of payment. Printing of lower denomination notes in new design will ensure soiled notes will be taken out from the system,” said Soumya Kanti Ghosh, group chief economic adviser at State Bank of India.