After the big Indian notes, now it’s time for 10 rupee note to get a new makeover. According to reports, the Reserve Bank of India (RBI) will shortly issue new banknotes of Rs. 10 denomination. The new Rs. 10 notes will be in the Mahatma Gandhi (New) Series, and will bear the signature of RBI Governor Dr Urjit R Patel.
The new denomination notes will have motif of the Sun Temple and the Konark on the reverse side, depicting the country's cultural heritage. The base colour of the notes is chocolate brown and they will have other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.
All the banknotes in the denomination of Rs. 10 issued by the RBI in the earlier series will continue to be legal tender, it said. The old Rs 10 note was last redesigned in 2005 and around 1 billion pieces of the new 10 rupee note has already been printed by the apex bank. The new design has been approved by the government.
The new note may also receive a makeover in its numbering pattern as seen in the new notes. In the new notes, ascending size of numerals can be seen from left to right. The move is aimed at eliminating circulation of small denomination counterfeit notes.
“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.