The Reserve Bank of India/RBI has announced the issue of new one rupee notes. However, the current notes and coins in circulation will also continue. These currency notes will be a legal tender as provided in The Coinage Act 2011.
The government’s demonetisation policy was implemented last November, removing the circulation of Rs.500 and Rs.1000 notes and issuing of new Rs.500 and Rs.2000 notes. These new one rupee notes have already been printed by the government. It is made of 100% (cotton) rag content wherein the thickness is 110 microns.
These new notes will be in pink-green color and will have the signature of the Economic Affairs Secretary, Shaktikanta Das. As usual, the notes will have the Ashok Pillar watermarked in the window but without the words ‘Satyameva Jayate’. A hidden ‘1’ in the centre and the word ‘Bharat’ will be written in Hindi, vertically arranged on the right side of the note. While the numbering will be printed in black, at the right hand corner of the note and in an ascending order of the size of numerals from left to right, the first three alpha numeric characters (prefix) remains equal.
Apart from this, they will also have the bilingual signature of Shaktikanta Das, Secretary, Ministry of Finance, with the replica of new one rupee coin and the symbol of 2017 issued. The inset letter in capitals”L” will also be printed on the note. The rupee symbol with floral design, surrounded by a design consisting of the picture of Sagar Samrat, the oil exploration platform in Maharashtra is also a distinguishing feature.
People were left confused and upset due to the demonetisation of the currency by the government. It still affects the people as there is lack of circulation of currency in the ATMs. After the implementation of this policy, there has been recurring speculation about the new currency in circulation as well.