The Government of India plans to issue new banknotes with a denomination of one rupee. The Ministry of Finance will print the new one-rupee banknotes, unlike the other denominations which are issued by the Reserve Bank of India (RBI).
The new rupee will come into circulation from the date of its publication in the Official Gazette - 7 February 2020. Some of the features of the new one-rupee note are given below:
- The words ‘Bharat Sarkar’ are written above the word Government of India.
- The new note will feature the bilingual signature of Atanu Chakraborty, Secretary, the Ministry of Finance.
- It will display the replica of the new one rupee coin with the ‘₹’ symbol, issued in 2020 with ‘Satyamev Jayate’ and an inset letter ‘L’ in the numbering panel.
- The numbering is in black at the bottom of the right corner of the banknote, written from left to right.
- The first three alphanumeric characters remain the same in size.
- The reverse side will have the image of the grains and the stalk to denote the agricultural dominance in the country, and the image also includes the Sagar Samrat, the oil exploration platform. The denomination one rupee is written in fifteen languages.
- The color of the note on both sides is predominantly pinkish green.
- The note is rectangular in size - 9.7 x 6.3 cm.
- The new note will have multi-tonal watermarks like the Asoka Pillar in the window, hidden number 1 in the center, and the word ‘Bharat’ vertically arranged and hidden on the right-hand side.
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It is a very unusual note, especially because India started issuing a 10 Rupee coin, I would have never guessed that they will come out with such a low denomination. Hopefully it will contain tactile marks, though being that it is about an inch shorter than the current 10 Rupee note, hopefully it will be somewhat more recognizable for visually impaired people.