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Monday, 28 November 2011

Did you know series(8) ; Twenty (20) Rupee Notes ; Classification and valuation.

 DID YOU KNOW SERIES (8) ; TWENTY RUPEE NOTES ;

CLASSIFICATION AND VALUATION:



TWENTY RUPEE NOTES :

CLASSIFICATION AND VALUATION:


Historical reference:

1)   The first twenty rupee notes were released on 01.06.1972 during the tenure of S.Jagannathan (RBI Governor 16.06.1970-19.05.1975). The size of these experimental notes was 63x147 mm.  The front side has a shield-shaped watermark window on the left side and the Lion Capital on the right, also placed in a shield-shaped window. There is a large white numeral “20”in the centre in intaglio (incised or raised design). The colours on the note were predominantly – red, orange, white, with the note numbers mentioned in black. On the back were 13 Regional languages given in a panel, besides Hindi and English and an image of the Indian Parliament (much like on the back of the fifty rupee initial note issues. 

2)      There was a design change during the tenure of S. Jagannathan itself and the colour scheme changed to red, orange, yellow and multi-coloured. The colour of the numeral “20” was changed to black from white .The Lion Capital size became much larger then the earlier issues and the water-mark window changed from a “shield-like” look to a “circular” design. On the reverse/back of the note, the Parliament design was changed to represent the ornately carved wheel at the Konark Sun Temple in Orissa, with floral patterns/motifs. There is a stylized Sum shining on the Konark Sun Temple/Wheel. This design/format continued during the tenures of K.R.Puri, M.Narasimhan, I.G.Patel, Manmohan Singh, R.N. Malhotra, C. Rangarajan and Bimal Jalan. The words “Satyameva Jayate” were mentioned for the first time below the Lion Capital during the time of C.Rangarajan.  
The above is a image of a Rs. Twenty Banknote issued during the tenure of RBI Governor Manmohan Singh which is in a soiled condition. Notice that the words "Satyameva Jayate" are not inscribed below the Lion Capitol of Emperor Asoka on the tight hand side of the Note. These Banknotes were issued with an "A" Inset during his tenure. (Insets are explained after the next Banknote which is in mint condition).
               The Back of the above Banknote.
The above is an image of a 20 Rupee Note issued under the signatures of Dr. C.Rangarajan (RBI Governor from 22.12.1992 to 22.11.1997). Notice the large Lion Capital of Emperor Asoka on the tight hand side of the Note with the words “Satyameva Jayate” below it. If you look at the serial number of the Note,the prefix of the above Note is ‘26A’ is the Prefix, the serial No. is ‘136687’. There is the letter “C”of the alphabet mentioned in the background of the serial number.  Hence, this note is said to have been issued with a “C” Inset.


This Twenty Rupee Note has been issued under Dr. Rangarajan’s signature with an Inset “B”.
(20 Rupee Notes were issued during Dr. Rangarajan’s tenure with Insets “B” and “C”).


The back of both the above Notes looks like the image above and has no year mentioned on it. (The years were mentioned on the back of twenty rupee currency Notes from 2006 onwards).

3)      The above design was changed and the large Asoka Lion Capital design was replaced by the Mahatma Gandhi portrait design which is predominantly in circulation, today. The Lion Capital with the words “Satyameva Jayate” inscribed below it moved to the bottom left of the 20 Rupee Notes. Also, the Gandhi image was used in the watermark window on the left hand side for the first time.

Twenty Rupee Notes presently in circulation:

You may still come across the 20 rupee Notes issued under Dr. C.Rangarajan’s signature with the Konark Sun Temple Wheel on the back in circulation today , with the Notes in almost in mint fresh condition, but their numbers are fast dwindling . I have picked up the two Notes,  images of which I have given above only during the last two months at provision stores. The value of these Notes in mint conditions is placed by collectors at between Rs.50/- to say about Rs.150/-


The above is an image of a 20 Rupee Note issued under the signature of Dr. Bimal Jalan( RBI Governor 22.11.1997 to 06.09.2003), with a “Plain Inset” under the Mahatma Gandhi series.



The above is a 20 Rupee Note issued under Dr. Jalan’s signature with an “A” Inset.


The above is a 20 Rupee Note issued under Dr. Jalan’s signature with an “R” Inset

(20 Rupee Notes were issued during Dr. Jalan’s tenure with “Plain “ Inset,”A” Inset and “R” Inset under the Gandhi series, while under the large Asoka Capital series, 20 Rupee Notes were issued under his signature with a “C” Inset).


The back of all the three Notes presented above looks like this. No year of issue is mentioned on the back. The numeral “20” appears on three cormers, with the denomination of the note mentioned in words “TWENTY RUPEES” mentioned on the bottom right hand side. Also seen on the back of the Note is an image of the Bay with Palm trees and a light-house and stylized floral designs flanking the picture of the Bay and Palm trees.Leaves shown on a Panel complete the picture at the bottom.

( The value of 20 Rupee Notes issued during Dr. Jalan’s tenure is between Rs.40/- and Rs.125/- or more).



The following images are of 20 rupee notes which I have in my collection issued under the signatures of Dr. Y.V.Reddy (RBI Governor from 06.09.2003 to 05.09.2008).

The above note is issued with an “E” Inset. The letter ‘E’ is in the background of the serial number. This is a 20 Rupee Note issued during the early part of Dr. Reddy’s tenure.


The back of the above note has no year mentioned on it, indicating the year of issue.



The above note is issued with an “E”Inset during 2007.


The back image of the above “E” inset note which was issued in 2007 with the year of issue mentioned below the image of the Bay.



The above is the front of a 20 Rupee Note is issued with an “E”Inset during 2008.

(20 Rupee Notes with “E” Inset were also issued in 2006 with the year of issue mentioned at the back for the first time in this denomination).



The back of the above “E” Inset note which was issued in 2008 with the year of issue mentioned below the image of the Bay.



The above note is issued with a “Plain” Inset. This is a 20 Rupee Note issued in 2006 during Dr. Reddy’s tenure.


The back of the above Note showing the year of issue as 2006.


The above note is issued with a “Plain” Inset. This is a 20 Rupee Note issued in 2007 during Dr. Reddy’s tenure.


The back of the above Note showing the year of issue as 2007.


The above note is issued with a “Plain” Inset. This is a 20 Rupee Note issued in 2008 during Dr. Reddy’s tenure.


The back of the above Note showing the year of issue as 2008.


The above note is issued with a “R” Inset. This is a 20 Rupee Note issued in 2008 during Dr. Reddy’s tenure. 

The back of the above Note showing the year of issue as 2007.

 (“R” Inset 20 Rupee Notes were also issued under Dr. Reddy’s signature in the early part of his tenure with the year of issue not mentioned at the back and also in 2006 and 2008 with the year of issue mentioned at the back.

 The value of 20 Rupee Notes issued during Dr. Reddy’s tenure could be about Rs. 300/- (for Notes issues with “A” Inset during the early part of his tenure), progressively scaling down to about Rs.40/- for other issues).

 The following images are of 20 rupee notes which I have in my collection issued under the signatures of Dr. D. Subbarao  (RBI Governor from 06.09.2008 to present day).


The above note is issued with a “Plain” Inset in 2009 during Dr. Subbarao’s tenure.


 The back of the above Note showing the year of issue as 2009. 


The above note is issued with a “Plain” Inset in 2010 during Dr. Subbarao’s tenure.



The back of the above Note showing the year of issue as 2010.


The above note is issued with an “R” Inset in 2010 during Dr. Subbarao’s tenure.


The back of the above Note showing the year of issue as 2010.



The above note is issued with an “R” Inset in 2011 during Dr. Subbarao’s tenure.


The back of the above Note showing the year of issue as 2011.

The above note is issued with an “E” Inset in 2009 during Dr. Subbarao’s tenure.


The back of the above Note showing the year of issue as 2009.


The above note is issued with an “E” Inset in 2010 during Dr. Subbarao’s tenure.


The back of the above Note showing the year of issue as 2010. Notes with "E" Inset were also issued in 2011.

 (The value of 20 Rupee Notes issued during Dr. Subbarao’s tenure could be about Rs. 125/- progressively scaling down to about Rs.40/- for later issues).

Posted on 08.11.12: 

After a very long search for a rupee symbol 20 (twenty) rupee note, including requesting several of my ex-SBI colleagues, I managed to get one from my friend Dennis in Gurgaon whom I was visiting last week. 



 The front of the twenty rupee note issued in 2012, exhibits the rupee symbol before the numerals "20" mentioned on the left and right side of the Note.



 As on the front of the Note, the rupee symbol is displayed before the numerals "20" on the top left and right hand sides of the note. In the centre bottom of the Back is mentioned the year of issue "2012".

Posted on 05.09.2013:


The front of this twenty rupee note issued in 2013, exhibits the rupee symbol before the numerals "20" mentioned on the left and right side of the Note.
I picked up this Banknote during a trip to Lonavla, the hill-station near Pune yesterday.


On the Back, the rupee symbol is displayed before the numerals "20" on the top left and right hand sides of the note. In the centre bottom of the Back is mentioned the year of issue "2013". This Note is somewhat worn out, so I am hoping that I will be able to collect some mint condition pieces as these would be the last few 20 rupees notes issued under the signature of RBI Governor Dr. Subbarao, as Raghuram Rajan has now taken over as the new RBI Governor.

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:   

   The Reserve Bank of India has extended the date for exchanging the pre-2005 banknotes to January 01, 2015. It has also advised banks to facilitate the exchange of these notes for full value and without causing any inconvenience whatsoever to the public.
   RBI has further clarified that the public can continue to freely use these notes for any transaction and can unhesitatingly receive these notes in payment, as all such notes continue to remain legal tender till that date.
 Posted on 15.08.14 (Camp:Chennai):

I have today received my first Rupees Twenty Banknote signed by Raghuram G.Rajan . These Banknotes were proposed to be put into circulation anytime after May 2014.
 The Front of the Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan bearing serial number 87A 470461 issued with a Plain Inset in 2014.
 The Back of the above Banknote showing the year of issue as 2014.

 Now I am on the lookout for "E" Inset & "R" Inset Rs.20 banknotes, whose circulation has been announced by the Reserve Bank of India in the last week of June 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.


Posted on 28.02.2015:
The undernoted packet of Rs.20/- Banknotes has been brought for my collection by Dennis, who is visiting us in Pune: 
The Front of the Rs.20/- packet bearing the sealed band of the Mysore Printing Press issued during the tenure of RBI Governor D. Subbarao.
The Back of the above Note packet bearing the year of issue as 2013.

Posted on 07.03.2015: 

Today I picked up a Rs.20/- Banknote with an "E" Inset issued with the signatures of RBI Governor Raghuram G. Rajan in 2014 at the local Provisions store. This banknote is in a rather soiled condition. Will replace it when I get a better one.

The Front of the Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan  issued with an "E" Inset in 2014.
 The Back of the above Banknote  showing the year of issue as 2014.

 Now I am on the lookout for an "R" Inset Banknote issued in 2014, which is the only other Inset issued this year so far.


Posted on 26.06.2015:

The Reserve Bank of India has extended the date for the public to exchange their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015.

Soliciting cooperation from members of public in withdrawing these banknotes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them.

The Reserve Bank has further stated that the notes can be exchanged for their full value. It has also clarified that all such notes continue to remain legal tender.
Posted on 31.07.2016:

I am updating this post after a long time now. I realised that I had neglected this post for updation for some time now till Zaheer Hasan reminded me by sending a few images of Banknotes in his collection for placing on this post.

The Front of a Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan  issued with an "E" Inset and bearing the Serial no. "25K 869491" issued in 2014. This Mint condition Banknote has recently come into my collection
 The Back of the above Banknote  showing the year of issue as 2014.
 The Front of a Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan  issued with a "Plain" Inset and bearing the Serial no. "82L 992349" issued in 2015.
  The Back of the above Banknote  showing the year of issue as 2015.
 The Front of a Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan  issued with an "E" Inset and bearing the Serial no. "11R 077119" issued in 2015
  The Back of the above Banknote  showing the year of issue as 2015.

The following Banknote images have been sent by Zaheer Hasan for illustration: 

The Front of a Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan  issued with an "R" Inset and bearing the Serial no. "36B 724911" issued in 2014.
  The Back of the above Banknote  showing the year of issue as 2014.

 The Front of a Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan  issued with an "A" Inset and bearing the Serial no. "63B 729157" issued in 2016. Notice that the exploding font format (Ascending Serial Numbers) has not been introduced in this Banknote upto this point.
 The Back of the above Banknote  showing the year of issue as 2016.
 The Front of a Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan  issued with an "E" Inset and bearing the Serial no. "86 K 657358" issued in 2016.

The Back of the above Banknote  showing the year of issue as 2016.


  Posted on 09.11.2016:

Fighting Black Money in India:

After the recently closed Black Money Voluntary Disclosure Scheme, which closed on end September 2016, the Government of India has brought in a major step on 08.11.2016 in its war against corruption, terrorism and black money.

Before the present Government took over the reins of Government about two years ago, India ranked around 100 in global rankings of corruption. Presently, it ranks 76th.

Black Money estimated at about Rs.1.25 lakh crores has been brought back to India according to Indian Prime Minister Narendra Modi. Nevertheless, this is not an exemplary position to be in, as such, the Government has taken some drastic measures:

The Indian Prime Minister Narendra Modi in a televised address to the nation on 08.11.2016 evening announced the demonetisation of the presently circulating higher denominations of currency viz. Rs.500/- and Rs.1000/- with effect from the coming midnight i.e. midnight of 08.11.2016. He stated that the Banknotes of these denominations will “just be worthless pieces of paper”. The Banknotes of all the lower denominations of Rs.100/-, Rs.50/-, Rs.20/-, Rs.10/-, Rs.5/-, Rs.2/- and Re 1/- and all coins will continue to be accepted as legal tender. In addition, new Banknotes in the denominations of Rs.2000/- and Rs.500/- will be introduced.

Also, there will be no change in any other form of currency exchange i.e. cheques, Demand Drafts, credit card or debit card payments.

This has been necessitated as the Government has been fighting the menace of black money and corruption over the past two years when it was voted to power.

To facilitate the smooth transition to the new money regime, Banks will be closed on 09.11.2016.

Presently, Rs.500/- and Rs.1000/- Banknotes which have been demonetised account for 86.4 % of the total value of Banknotes which were in circulation as of 31.03.2016.

Some instances, where the Rs.1000/- and Rs.500/- old Banknotes can still be used:

Existing Rs.500/-  and Rs.1000/- Banknotes will be accepted till 11.11.2016 at Government hospitals, pharmacies in Government hospitals (with prescriptions), Railway counters, Government buses, Airline counters, petrol pumps, Cooperative stores run by Government, milk booths of State agencies, crematoria and burial grounds.

The result of this announcement:

I saw huge crowds of four wheelers and two wheelers at petrol pumps which stayed open, but several petrol pumps closed before time.

Two Shopping Malls in the vicinity of my residence remained open till midnight and saw unprecedented rush of shoppers, as Banknotes of Rs.1000/- and Rs.500/- denominations remained legal tender till midnight of 08.11.2016.

Several persons stood patiently in serpentine queues to withdraw small denomination Rs.100/- Banknotes to meet their expenses over the next few days, as a result, several ATMs went out of cash.

What else?

On 9th and 10th November 2016, ATMs will not work, as smaller denomination banknotes will be arranged for by the ATM Management Groups/Banks.

All Banks will remain closed on 09.11.2016.

From 10.11.2016 to 31.12.2016, customers can deposit Banknotes of Rs.500/- and Rs.1000/- in any Bank or Post Office. However, there is a condition – the depositor will have to show a proof of identity. One can deposit any amount into one’s own account, but if KYC documents have not been submitted, the limit is Rs.50,000/-

This condition will be relaxed somewhat, as after 31.12.2016, one can still deposit old Banknotes with valid ID proof at specified offices of RBI, to be intimated later, till 31.03.2017.

No restrictions on payments by cheques, DD, debit/credit cards & Electronic Fund Transfer (EFTs) has been made.

From 10.11.2016, Banks and Post Offices will operate for extended hours to facilitate the unprecedented rush of deposit of the cash  into deposit accounts. 
The exchange facility is available at all Issue Offices of RBI and branches of commercial banks/RRBS/UCBs/State Co-op banks or at any Head Post Office or Sub-Post Office.


Depositors can withdraw up to Rs.2,000/- per day per card from ATMs till November 18 and Rs.4,000/- per day per card after this date.

The ATMs will resume functioning from November 11, 2016 upon their recalibration to dispense bank notes of the denominations of Rs.50/-, Rs.100/- Rs.500/- and Rs.2,000/-
Further, so as to ensure customer convenience, banks are also advised to provide all cash withdrawal transactions at their ATMs free of cost to their customers till 30 Dec 2016. It has also been decided that banks may fix a limit of Rs 2000/- per day per card withdrawal limit at ATMs, for all their customers, till November 18, 2016.  For deposits being made at Banks and other establishments, please note, that one will get upto ₹4000 per person in cash irrespective of the size of tender and anything over and above that will be receivable by way of credit to bank account.

Thereafter, one can withdraw up to Rs.10,000/- per day and Rs.20,000/- per week either through withdrawal slips, cheques or through ATMs from Banks till 24.11.2016. After this date, the limit will be raised.

Depositors can withdraw up to Rs.2,000/- per day per card from ATMs till November 18 and Rs.4,000/- per day per card after this date.

Freshly designed Banknotes of Rs.500/- and Rs.2000/- with chips in them will be introduced on Thursday, i.e. 10.11.2016.

One can contact the following RBI & Government helpline numbers for any query – 022-22602201 and 022-22602944 (RBI) and Ministry of Finance: 011-23093230.

Property prices could drop substantially in the secondary market, as there is an estimated 60:40 (Legal-to-Black money ratio) in operation as at present.

This step is also aimed at stamping out the menace of corruption and terror funding, as terrorists from across the border have been using fake currency notes.

A word of caution:

One can also deposit the demonetised currency in someone else’s account with written authorisation and one’s ID proof.

The Government/RBI has cautioned citizens against exchanging other person’s unaccounted cash at Banks/Post Offices. Security cameras will monitor transactions at branches and the exchange will be recorded.

Introduction of the new denominations of Rs.2000/- and R.500/-:

Reserve Bank of India has yet to decide the limit for individuals for possession of Banknotes of higher value i.e. Rs.2000/- and Rs.500/- which will be put into circulation from 10.11.2016.
 The Front of the new Rs.2000/- Banknote which is now going to be in circulation wef 10.11.2016    
The Back of the new Rs.2000/- Banknote shows the Mangalyaan which is the Mars Orbiter     
The salient features of the new Rs.2000/- Banknotes are:

The Series will be called the Mahatma Gandhi (New) Series.

The Banknotes will bear the signatures of Dr. Urjit R. Patel, RBI Governor.

The year of printing will start from 2016 which will be printed on the Back of the Banknote.
The new denomination has the motif of the "Mangalayan" on the Back, which is India's first venture in inter-planetary space.
The base colour of the Banknote is magenta .
The Banknote has other designs, geometric patterns aligning with the overall colour scheme, both on the Front and Back. 

Other important features of the Banknote:

On the Front: See through Register with denominational numeral 2000

Latent image with denominational numeral 2000

Denominational numeral 2000 in Devnagri

Portrait of Mahatma Gandhi at the centre

Micro letters “RBI” and “2000” on the left side of the Banknote

Windowed security thread with inscriptions “Bharat” (in Hindi), RBI and 2000 on Banknotes with colour shift. Colour of the thread changes from green to blue when the Banknote is tilted

Guarantee Clause, RBI Governor’s signature with Promise Clause and RBI emblem towards the right

Denominational numeral with Rupee symbol “R 2000” in colour changing ink (green to blue) on bottom right, Ashoka Pillar emblem on the right.

Watermarks: Mahatma Gandhi portrait and electrotype (2000).

Number panel with numerals growing from small to big on the top left side and bottom right side

For visually impaired:

Intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, Bleed lines and identity marks.

Horizontal rectangle with “R2000” in raised print on the right.

Seven angular bleed lines on the left and right side in raised print

Other features:

Year of printing on the Banknote on the left

Swachh Bharat” logo with slogan

Language Panel towards the centre

Motif of Mangalyaan

Denominational numeral “2000” in Devnagri

Size/Dimensions of the Banknote: 166 mm x 66 mm

The Front of the new Rs.500/- Banknote which is now going to be in circulation wef 10.11.2016   
The Back of the new Rs.500/- Banknote shows the Red Fort in New Delhi
 The salient features of the new Rs.500/- Banknotes are:

The Series will be called the Mahatma Gandhi (New) Series.

The Banknotes will bear the signatures of Dr. Urjit R. Patel, RBI Governor.

The year of printing will start from 2016 which will be printed on the Back of the Banknote.
The new Banknote is different from the present series in colour, size, theme, location of security features and design elements.
The colour of the Banknote is stone-grey.
The Banknote has a pre-dominant new theme - Indian heritage site - Red Fort.
On the Front: See through Register with denominational numeral 500

Latent image with denominational numeral 500

Denominational numeral 500 in "Devnagri"

 Portrait of Mahatma Gandhi at the centre

Micro letters “RBI” and “500” on the left side of the Banknote

Windowed security thread with inscriptions “Bharat” (in Hindi), RBI and 500 on Banknotes with colour shift. Colour of the thread changes from green to blue when the Banknote is tilted

Guarantee Clause, RBI Governor’s signature with Promise Clause and RBI emblem towards the right

Denominational numeral with Rupee symbol “R 500” in colour changing ink (green to blue) on bottom right, Ashoka Pillar emblem on the right.

Watermarks: Mahatma Gandhi portrait and electrotype (500).

Number panel with numerals growing from small to big on the top left side and bottom right side

For visually impaired:

Intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, Bleed lines and identity marks.

Horizontal rectangle with “R500” in raised print on the right.

Five angular bleed lines on the left and right side in raised print

On the Back:

Year of printing on the Banknote on the left

Swachh Bharat” logo with slogan

Language Panel towards the centre

Motif of Red Fort, New Delhi

Denominational numeral500” in Devnagri

Size/Dimensions of the Banknote: 150 mm x 63 mm  

  A cartoonist's impression of how the demonetised Banknotes can be used - by eating snacks on them.
This is a handy chart showing the various dates and options available to the customers/depositors  
This form is to be filled in , in case the demonetised currency is being deposited in a non-home Branch/Post Office.

Posted on 03.12.2016:

Further to my update dated 15.09.2016, I have come across the undernoted Banknote exhibiting the same revised features contained in the said Banknote notification (Press release dated 15.09.2016) to be issued with Dr.Urjit Patel's signature (present RBI Governor) with an "R" Inset. This Banknote, has been issued with an "L" Inset and has been signed by his predecessor RBI Governor Raghuram G. Rajan. This Banknote has been contributed for my collection by Jayant Biswas:
 The Front of this new design Rs.20/- Banknote recently put into circulation under the signature of the previous RBI Governor Dr. Raghuram G. Rajan bears the Serial no. 98B 651646 in the ascending font format and has an "L" Inset. Notice that it does not contain the Rectangular Indentification feature (meant as an assist to the visually challenged persons) among other changes, including no intaglio print (raised) and printing in Off-set
 The Back of the above Banknote does not exhibit any change on this face and is identical to previous issues. It bears the year of issue as "2016".

 Now for the extremely interesting part for Banknote Collectors:

RBI  vide its Press release dated 2016-2017/1004 signed by Ajit Prasad Assistant Advisor, has notified on 24th October 2016 as follows: 

"The Reserve Bank of India will shortly issue Rs.20/- denomination banknotes in the Mahatma Gandhi Series-2005, with the inset letter "L" in both the number panels bearing the signature of Dr. Raghuram G. Rajan and the year of printing "2016" printed on the reverse of the banknote. 

The design and security features of these banknotes to be issued now is similar to the Rs.20/- banknotes in Mahatma Gandhi Series - 2005 issued recently with the ascending size of numerals in the number panels, without intaglio printing, without latent image and without identification mark. 

The colour at the obverse of the notes remains lighter due to removal of intaglio printing (Ref: Press release No. 2016-2017/678 dated September 15, 2016). All the Banknotes in the denomination of Rs.20/- issued by the Bank in the past will continue to be legal tender".

What are the issues here

This notification is dated 24.10.2016, whereas, Dr. Raghuram G. Rajan had relinquished the office of RBI Governor at the end of the first week of September 2016.It mentions Dr. Rajan as "RBI Governor" on a date when he had relinquished the office of RBI Governor at the end of the first week of September 2016. Does it mean that two RBI Governors were in charge of office till the date of issue of this notification i.e. 24.10.2016?

  This Notification refers, inter alia, to the Press release dated 15.09.2016, in which RBI had notified that the revised design Rs.20/- Banknotes would be issued under Dr. Urjit Patel's signature with the inset "R". Does this later Notification not inter alia undermine the authority & position of the present RBI Governor Dr. Urjit Patel

The question which arises is why did RBI put these Banknotes into circulation so late, much after the then RBI Governor Dr. Raghuram G. Rajan was still in office? 

Another question arises - whether this Banknote will be treated as legal tender, considering that it was issued after Dr. Rajan has relinquished office?  

Apparently, on the authority of Ajit Prasad's notification, it will for all practical purposes be treated as legal tender.

Posted on 14.12.2016:

After demonetisation of the higher denominations of Rs.1000/- and Rs.500/- has taken place, these have been enormous queues outside Bank Branches, which have been running out of currency to dispense to the  customers who have been thronging to draw cash to meet their day-to-day requirements at establishments/outlets where Credit cards and debit cards are still to be installed.

I happened to be given the undernoted packet of Rs.20/- by one Bank branch three days ago, on my request: 
 The Front of the Rupees Twenty Banknote packet of 100 pieces issued with an "E" Inset in 2015, under the signatures of the previous RBI Governor Raghuram G. Rajan
 The Back of the above Banknote packet showing the year of issue as 2015

Posted on 11.02.2017 from my collection:
 The Front of a Rs. Twenty Banknote signed by present RBI Governor Raghuram G. Rajan  issued with an "S" Inset and bearing the Serial no. "39B 169399" issued in 2016. 
 The Back of the above Banknote  showing the year of issue as 2016.

 Now take a look at this Banknote issued in 2016, bearing Serial no. "65A 239266" issued with an "E" Inset. While it exhibits the same features as the previous issues, the Serial number is in the "exploding font" format (ascending Serial numbers). This is the first time that exploding fonts were introduced in this denomination.
 The Back of the above Banknote  showing the year of issue as 2016.

Reserve Bank of India on 15.09.2016 vide its Press release dated 2016-2017/678 after RBI Govenor Urjit Patel has taken over from the ex-RBI Governor Raghuram G. Rajan recently, has come out with several changes being made in regard to the design of Rupees Twenty Banknotes:


This Press Release states, inter alia,  that RBI will be shortly issuing Rupees twenty Banknotes bearing RBI Governor Urjit Patel's signatures with the Inset "R" in both the number panels, with the following features:

- they will bear the Ascending Font Serial numbers, while the three Alpha-numeric prefix characters will remain constant in size (i.e. have the same size).

-  the Intaglio (raised) printing has been removed from the numeral "20", Mahatma Gandhi portrait, RBI legend, Guarantee and Promise Clause, Governor's signature, Ashoka Pillar Emblem, and these features will now be printed in "Offset" (i.e. without any raised printing). 

- the Rectangular Identification Mark for assistance to the visually challenged persons on the left hand side is now being withdrawn/removed.

- the colour on the Back is the same as previous issues, but the colour on the Front will be lighter (due to the removal of Intaglio printing).

- All the Banknotes of Rs.20/- denomination issued by RBI in the past will continue to be legal tender.
 
I have yesterday acquired the above Banknote which has been issued with the changes contained in above Press Release of RBI from the exit gate at Ruby Hall courtesy of Rini Boudi. This Banknote bearing Serial number "71B 209585" and issued with an "R" Inset, is among the first issues signed by the new RBI Governor Urjit R. Patel exhibiting the new design introduced with the issue of this Series. The Serial numbers are in the Ascending numerals format, the rectangular identification mark on the left (which was an assist for the visually impaired persons) has been removed, the colour on the Front is lighter due to Off-set printing, instead of "Intaglio Printing" (Raised Printing - which was another assist for the visually impaired persons).
 The Back of the above Banknote  showing the year of issue as 2016 and exhibits no change in the earlier design.
Posted on 22.02.2017:
I have today acquired the undernoted Banknote which has been issued with the changes contained in above Press Release of RBI, from a shopping mall where I collect my provisions from:
 This Banknote bearing Serial number "10A 505729" and issued with an "L" Inset, is among the  issues signed by the new RBI Governor Urjit R. Patel in 2016, exhibiting the new design introduced with the issue of this Series.
  The Back of the above Banknote  showing the year of issue as 2016 and exhibits no change in the earlier design.

Posted on 30.03.2017:

Yesterday I have got back the undernoted Banknote from a restaurant, who gave me three Banknotes of Rs.20/- denomination issued in 2017, signed by RBI Governor Urjit R. Patel:
The above Banknote bearing serial no. "06D 632755" and issued with a "Plain Inset" has been issued under the signature of Urjit R. Patel, present RBI Governor in "2017"  and exhibits the new design features introduced in this denomination recently.

The Back of the above Banknote  showing the year of issue as "2017" and exhibits no change in the earlier design. 

 Posted on 04.07.2017:

The Reserve Bank of India has adopted the "Star" series numbering system for replacement of defectively printed Banknotes at the printing presses. To begin with, this system was effected for all Banknotes in the denominations of Rs.10/-, Rs.20/-, Rs.50/- and was later extended to Rs. 100/- enominations. More recently, Rs.500/- Banknotes have also been included in this system.

The Star Series Banknotes look exactly like the existing Mahatma Gandhi Series Banknotes, but have an additional character viz., a "*"(star) in the number panel in the space between the prefix and the number. The packets containing these Banknotes are, therefore, not serially numbred but contain 100 Banknotes as usual. To facilitate easy identification, the bands on such packets clearly indicate the presence of such Banknotes in the packet & carry a message " Contains non-Serially Numbered Notes with * in the number panel. These Banknotes command a higher premium than their face value and are much sought after by Collectors.

I have got this Rs.20/- Banknote at a vegetable vendor's outlet. Though much worn out with use, it is the first Rs.20/- Star Series Banknote in my possession and illustrates the above narration:
 The above Banknote bearing serial no. "02F 108614" ( in the exploding font format in its Serial number) and issued with an "L" has been issued under the signature of Raghuram G. Rajan, the previous RBI Governor in "2016"  and exhibits the "*" (Star) in the number panel.
The Back of the above Banknote  showing the year of issue as "2016" and exhibits no change in the earlier design.

Posted on 25.08.2017:

Two days ago,  I received the undernoted Banknote as change at a shopping mall in the Rs.20/- denomination issued in 2017, signed by RBI Governor Urjit R. Patel:
The above Banknote bearing serial no. "68D 624359" and issued with an "L Inset" bears the signature of Urjit R. Patel, present RBI Governor  and has been issued in "2017" . This Banknote exhibits the new design features introduced in this denomination recently.
The Back of the above Banknote  showing the year of issue as "2017" and exhibits no change in the earlier design. 

35 comments:

  1. Sir i am having a fresh intact and untouch bundle of Rs 20 K.R.PURI plain inset and G prefix the second issue of Rs 20 konark wheel on back.. What should be the price.. Can u suggest me some buyers too plz mail me your reply on wasim650in@yahoo.com
    or can sms me on 9331836504
    thank you

    ReplyDelete
  2. Hi Wasim,
    I have given assessments of prices on my blog after studying various channels of information and approx. indicative prices, at the time of posting my articles. However, I do not trade in buying or selling coins or bank notes. My blog is mainly developed on giving basic information about various currencies. As such I will not be able to give you the best approx. prices as required by you. However, I suggest that you could check up various websites like ebay etc. to get an approx. valuation of your notes. Also, if any reader/visitor is interested, your mob. no. and email are already mentioned on your comment above and they can get in touch with you.

    ReplyDelete
  3. I have Rs 20 Bundle 100 Notes UNC Rangarajan/ Konark Wheel. Please sms to 9324991030 or email tarajvpd@gmail.com

    ReplyDelete
  4. Hi Rajive,
    Must say that a very imformative and detailed blog.
    I was very curious to know more about Rs.20 orange note signed by S.Jagannath.Please share more if possible
    My id is (alok.aarora@gmail.com)

    ReplyDelete
    Replies
    1. Hello Alok,
      I have sent you a response on your email id today.

      Delete
    2. Sir i am having a fresh intact and untouch bundle of Rs 20 K.R.PURI plain inset and G prefix the second issue of Rs 20 konark wheel on back.. What should be the price.. Can u suggest me some buyers too plz mail me your reply on:tstarulata04@gmail.com. cont.no:9718514646

      Delete
    3. Hello Anonymous,
      I have sent you a response on your email today.

      Delete
  5. hi, I have an old rs2 & an old rs5 now.I want to sale it.plz sir tel me about it.i mean,its market value.cont no: 9718514646, e-mail id: tstarulata04@gmail.com.Thank you.

    ReplyDelete
    Replies
    1. Hello Anonymous,
      I have sent you a response on your email today.

      Delete
  6. I have mint condition, 1 rupee MSAluwalia,5rs, Malhotra/Rangarajan/Jagannathan, 10 Rs Vinkitaraman/Subarao/Dr Jalan,
    20 Rs Jagannathan/Malhotra 2 Rs Malhotra satelite

    ReplyDelete
    Replies
    1. Hello Krishna,
      Please mention your email address and/or mobile number, so that interested collectors/buyers may get in touch with you.

      Delete
    2. call me on 7898797078,i will buy your notes.

      Delete
  7. i am aslam hi old note if any one need to buy cont me marmango280882@gmail.com

    ReplyDelete
  8. i have some old notes and coin can anyone assist me, how to sale??

    sumitk.wipro@yahoo.in
    8699345654

    ReplyDelete
  9. their is a F inset 20 rupees bank note Year 2011 issued during Dr. Subbarao’s tenure

    ReplyDelete
    Replies
    1. That is correct. I had got a "F" inset banknote for placing on this post, but the note got spent due to an oversight, hence I missed it.

      Delete
  10. Sir I have full ashoka wheel 20 Rs./- notes..&
    I Want to know about there market value of 1 per note
    My email- Nneo3d@gmail.com (whatsapp- 9039879152)
    Hope you reply me soon.

    ReplyDelete
    Replies
    1. Hi nneo3d,
      I am giving you a link where you will find present day quotes of similar Banknotes like yours. It will give you a realistic assessment on what prices buyers & sellers are willing to sell/buy at, presently:
      http://www.ebay.in/sch/i.html?_sacat=0&_nkw=20+rupee+note

      Delete
    2. call me on 7898797078,i will buy your note.

      Delete
  11. if u want 20rs fullchakra so contact&w.app7805862537.
    as soon as possible.
    i have only 2note only.

    ReplyDelete
    Replies
    1. call me on 7898797078,i will buy your note.

      Delete
  12. Hello I have 20 RS note on back side Parliament is their
    Can it be sell
    Email me at harshporwal29@gmail.com
    Or contact 8871400350

    ReplyDelete
  13. I have a 20Rs. Full Chakra-S.Jagannathan and 4pieces 20Rs. Parliament house-S.Jagannathan in very good condition.interested please contact-9163273797

    ReplyDelete
  14. Their is a "A" inset 20rs note signed by Dr. Bimal Jalan. It is in good condition so i want to sale the note and I want to know the market value of note.
    Email me at avinishmishra96@gmail.com

    ReplyDelete
    Replies
    1. You could check out presently quoted prices for similar Banknotes at the following link on eBay and arrve at an assessment of present day valuation of your Banknote:
      http://www.ebay.in/sch/i.html?_trkparms=65%253A1%257C66%253A1%257C39%253A1&_nkw=20+rupees+note

      Delete
  15. i have series of rs1 notes signed by manmohan singh S jagannathan pratap kishan kaul of 1967,1976,1991 and rs 2 notes signed by R.n malhotra,S.venkatraman,mahmaohan singh,S jagannathan and rare old coins of 1p,5p,10p,20p,1/4 anna ,25p and rs 5 note ending series 786 and Rs 10 bundle of 786 series and old coins of british colonial time and series of 786 notes of rs 5,rs 100,rs 1000 and many more
    sushil-7011126603
    casushil1@gmail.com

    ReplyDelete
  16. I want 20 rupees full chakra note and 10 rupees 3 and 1 peacock note and 10 rupees 2 boat note and 5 rupees deeers note and i want many old notes.call or whatsup 9730035544.

    ReplyDelete
  17. I HAVE ONE FIRST ISSUE RS 20 NOTE SIGNED BY S JAGANNATH SERIES A46 WITH PARLIAMENT ON BACK SIDE 9830608977

    ReplyDelete
  18. I have 20 and 10 rupees old not ashok chakra my WhatsApp no 8860034306
    and 5 rupee coins

    ReplyDelete
  19. I have 20 and 10 rupees old note ashok chakra
    note signed by S jagannath series
    my WhatsApp no 886034306

    ReplyDelete
  20. Sir,

    Could you give more details of Rs.20 S. Jaganathan orange parliament notes, it is said there are 3 editions but whats the difference i'm not aware.

    ReplyDelete
    Replies
    1. I will have to research this denomination once again as soon as I get time with my posts about to go up on the blog.I will revert to this aspect shortly.

      Delete
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    ReplyDelete
  22. Any Rare coin old notes and bundle notes you want Contact my w app 7049883695 Thanks Hurry up All

    ReplyDelete