The government of India has issued new 1 Rupee notes bearing the rupee symbol and will be soon put into circulation. After 22 years, the 1 rupee note will be back in the market. While the rest of the notes bear the signature of RBI governor, one rupee note will bear the signature of Shaktikanta Das, finance secretary, and Rajiv Mehrishi, finance secretary at the time.
One rupee note was discontinued in 1994 and just a year after that, five and two rupee notes were also pulled out to free printing facilities for higher denomination notes.
Here are some key features of the new one rupee note:
1. The color of the new one rupee notes shall be predominantly pink-green on observing and reverse in combination with others.
2. There is also a representation of one rupee coin with the rupee symbol having a floral design. The surrounding design consists of a picture of the ‘Sagar Samrat’ oil exploration platform.
3. The notes will contain the words ‘Bharat Sarkar’ in Devnagri above the words Government of India with the bilingual signature of Shaktikanta Das, finance secretary.
4. Besides the imprint, 15 Indian languages will render the value of the notes.
5. The notes have been announced in order to ensure that the shopkeepers do not replace them with candies on the excuse of no change.
6. The numbering of the new notes will be in the black at the right-hand bottom portion of the note.
7. According to a release by the RBI, “These currency notes are legal tender as provided in The Coinage Act 2011. The existing currency notes in this denomination in circulation will also continue to be legal tender.”
8. The new note will be 9.7cm*8.3cm. It will cost the taxpayer 94 paise, compared to the one rupee coin, which is 70 paise when melted.
9. All other denominations have always been issued by the RBI while one rupee notes have been issued by the Central Government.
10. Printing of the new notes began in January 2015 after reports of an acute coin shortage.