New Delhi, Nov 11: After the announcement of demonetization of Rs 500 and Rs 1000 notes on November 8, the government made an announcement on Thursday about the introduction of Rs 50 and Rs 100 notes with new design and more security features. However, the old Rs 50 and Rs 100 notes will not be withdrawn and will continue to be legal tender.
This was informed by Shaktikant Das, Secretary of Economic Affairs while attending the two day Economic Editor’s conference that began on Thursday.
Apart from this, new Rs 1000 notes will also be released soon with new design and security features, Das further informed.
It may be noted that after government announced about the demonetization of Rs 500 and Rs 1000 notes on November 8, many people were seen standing in long queues at different public and private sector banks and post offices on November 10 to exchange their old currency notes.
For making it more convenient for customers to exchange their old currency, all banks will remain open on Saturday and Sunday and have been directed to work for 12 hours. If required, then the banks will remain open even on next Sunday (November 20).
Source: PIB
