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The Gandhi Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of Indian rupee. The series is so called because the obverse of the banknotes prominently display the portrait of Mahatma Gandhi. Since its introduction in 1996, this series replaced all Lion Capital Series banknotes issued before 1996. The Reserve ...
Lion Capital Series: Banknotes of the Indian rupee printed between 1962 and 2000. Mahatma Gandhi Series: Banknotes of the Indian rupee printed between 1996 and 2018. Mahatma Gandhi New Series: Banknotes of the Indian rupee printed from 2016 to present.
The Mahatma Gandhi New Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of the Indian rupee (₹), intended to replace the Mahatma Gandhi Series of banknotes. Announced on 8 November 2016, it followed the demonetisation of ₹ 500 and ₹ 1000 banknotes of the original Mahatma Gandhi Series.
In 1987, the ₹500 note was introduced, followed by the ₹1,000 note in the year. The current ₹500 banknote, in circulation since 10 November 2016, is a part of the Mahatma Gandhi New Series. The previous banknotes of the Mahatma Gandhi Series, in circulation between October 1997 and November 2016, were demonetised on November 8, 2016.
In order to contain the volume of banknotes in circulation due to inflation, the ₹ 1000 banknote was again re-introduced in November 2000, under the government of Atal Bihari Vajpayee, as a part of the Mahatma Gandhi Series of banknotes; these were demonetized on 8 November 2016 by the Prime Minister of India Narendra Modi, with the claimed ...
The ₹ 100 banknote of the Mahatma Gandhi Series is 157 × 73 mm blue-green coloured, with the obverse side featuring a portrait of Mahatma Gandhi with a signature of the governor of Reserve Bank of India. As of 2012, the new ₹ sign has been incorporated into banknote of ₹ 100. [3]
George V series: A series carrying the portrait of George V were introduced in 1923, and was continued as an integral feature of all paper money issues of British India. These notes were issued in denominations of ₹1, ₹ 2 + 1 ⁄ 2 , ₹5, ₹10, ₹50, ₹100, ₹1,000, and ₹10,000.
On 8 November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi Series.It also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes. [2]