The above is an image of the front side of a 50 rupee note issued under Dr. Reddy’s signatures with an “L” Inset.
Posted on 08.11.2012:
The back of the fifty rupee Note showing the rupee symbol again before the "50" numerals mentioned on the top left hand and right hand sides.
Posted on 23.01.2014:
Reserve Bank of India has now decided to withdraw all currency notes issued prior to 2005, without specifically mentioning that these Banknotes will cease to be legal tender. From April 2014 all Banks will accept and exchange pre-2005 Banknotes. These Banknotes are easily identified by the absence of the year of printing on the Back of the Note. RBI estimates that the maximum number of fake currency Banknotes are from the period prior to 2005. From 01.07.2014, to exchange more than 10 pieces of Rs.500/- and Rs.1000/- banknotes, non-customers will have to furnish identity and address proof to the Bank Branch. However, it is expected that later on RBI will issue a communication advising users the final date upto which Banknotes prior to 2005 will be accepted by the Bank.
Therefore, please start examining the year of issue"at the back of the currency Notes passing through your hands, so as not to face the inconvenience of going to a Bank Branch for returning the currency issued prior to 2005.
While this is a welcome step, RBI needs to have a policy in place to take the remaining counterfeit Banknotes issued after 2005, like changing/revamping the Front and Back designs, adding more effective security features etc. so as not to put users at risk of accepting counterfeit currency Banknotes.
Posted on 03.03.2014:
Posted on 28.08.2014:
I have acquired my first Rs.Fifty Banknotes, signed by the present RBI Governor Raghuram G. Rajan from a toll collection post while travelling from Chennai to Coorg last week. The scans of the Front & Back of this Banknote are placed below for reference:
The Front of the Rs.50/- Banknote signed by Raghuram G. Rajan issued with a Plain Inset in January 2014.
The Back of the above Banknote showing the year of issue as 2014.
Now I am on the look-out for Rupees Fifty Banknotes issued with "L" Inset (proposed for issue anytime after April 2014) and "R" Inset (proposed for issue anytime after August 2014).
Posted on 31.12.14:
The Reserve Bank of India (RBI) has extended the deadline for turning in pre-2005 Banknotes to 30.06.2015. While these Banknotes would be treated as legal tender upto this period, but RBI would destroy them as and when they come into Bank branches.
RBI has sought the general public’s cooperation and urged them to deposit the old design Banknotes in their Bank accounts or exchange them at a bank branch convenient to them.
RBI has further mentioned that the Banknotes can be exchanged for their full value till this date. Check out all your Banknotes and deposit all such Banknotes (i.e. without the year of issue printed at the back) at convenient Bank branches before the scheduled date.
Links to other Posts on Indian Currency Notes on this blog: