The Reserve Bank of India is soon going to circulate currency notes in one rupee denomination. In a notification issued by the Department of Economic Affairs under the Ministry of Finance, the currency will come into force from the date of their publication in the Official Gazette.
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The Government of India has already started printing the notes at the currency printing presses. The new notes will be pink-green in colour in obverse and reverse in combination with others. The notes will have a representation of the one rupee coin on the reverse of the note with the words "Government of India" and the bilingual signature of Shaktikanta Das, the Secretary of the Ministry of Finance.
"These currency notes are legal tender as provided in The Coinage Act 2011," RBI said in a release. However, the one rupee coins will continue to exist.
Here are all the details about the new one rupee note
In February, Das had taken to Twitter to dismiss all news that the Government of India will soon circulate new Rs. 1000 notes. He said that no new Rs. 1,000 currency notes would be introduced as legal tender as they were focusing on the "production and supply of Rs. 500 and lower denomination notes."
In November 2016, the Indian government had introduced new Rs. 500 and Rs. 2000 notes as part of the demonetisation move.
