DID YOU KNOW SERIES (9) ; FIFTY RUPEE NOTES ; CLASSIFICATION AND VALUATION.

DID YOU KNOW SERIES (9) : FIFTY RUPEE NOTES : CLASSIFICATION AND VALUATION.

Historical reference:

1)   The first 50 rupee notes were introduced by Reserve Bank of India in May 1975 during the tenure of S.Jagannathan (RBI Governor 16.06.1970 – 19.05.1975) the front had a watermark window on the left side and the Lion Capital on the right. Thirteen (13) Regional Languages are mentioned on the panel to the right of the Watermark window. The back showed a picture of the Indian Parliament with no flag on the flag mast /flagpole. This design continued for some time and was replaced during the time of I.G.Patel (RBI Governor 01.12.1977 – 15.09.1982) with the Indian flag on the flag mast/ flagpole and the words “Satyameva Jayate” appeared below the Lion Capital for the first time. This design continued during the tenures of Manmohan Singh (RBI Governor 16.09.1982-14.01.1985), R.N Malhotra (RBI Governor 04.02.1985 – 22.12.1990), S.Venkitaramanan (RBI Governor 22.12.1990 – 21.12.1992), C Rangarajan (RBI Governor 22.12.1992 – 22.11.1997) and Bimal Jalan (RBI Governor 22.11.1997 – 06.09.2003).

2)   Simultaneously, a new design with changed colours and  with a Mahatma Gandhi portrait on the front and a more distant and compact picture of the Indian Parliament on the back was introduced during the tenures of RBI Governors C. Rangarajan and Bimal Jalan which designs/format are still found on the fifty rupee currency notes being used by you today. Also, the number of Regional Languages was raised to 15.

The above is a front side image of a fifty rupee Note issued during the tenure of S.Venkitaramanan, (RBI Governor 22.12.1990 to 21.12.1992), showing Guilloche printing (defined as an ornament or design in the form of two or more bands or strings twisting over each other, so as to repeat the same figure, in a continued series, by the spiral returning of the bands), except in the corners which are plain white. The colour scheme is multicoloured, green, pink and violet.  

Notice the large Lion Capital of Emperor Asoka on the right hand side of the Note with the words “Satyameva Jayate” (Truth Always Prevails) below it. If you look at the serial number of the Note, the prefix of the above Note is ‘1RS’, the serial No. is ‘953443’. There is the letter “A “of the alphabet mentioned in the background of the serial number.  Hence, this note is said to have been issued with an “A” Inset. The serial number is mentioned on the bottom left and repeated on the top right hand side of the Note.

 Also notice that the promise to pay the bearer the sum of fifty rupees made by the Governor is mentioned first in English on the left hand side and then in Hindi on the right hand side. We will see that in Notes issued at some later dates, this pattern will reverse. Also, notice that the words “Reserve Bank of India (and) Guaranteed by the Central Government” are mentioned in English above and then in Hindi, below the English Inscription. This pattern will also reverse in Notes issued at some later dates. 

The symbol of the Reserve Bank of India figures on this Note at the bottom left hand side. Also, notice that the word “Governor” is mentioned as such both in English and Hindi and not translated into Hindi (The normal Hindi translation is “Rajyapal” or “one who manages/looks after the affairs of the State”, as this may be a misnomer while addressing the Governor of the RBI? Any other interpretations as to why the Hindi translation of the word Governor has not been made on currency notes? Or is it just an oversight?).
 

The value of a fifty rupee Note issued during the tenure of S. Venkitaramanan, in mint condition, would be about Rs.125/- about Rs.200/- or Rs.300/-.

The back of the Note shows the Indian Parliament with the flag flying on the Flagpole. No year of issue is mentioned below the image of the Parliament, which appeared for the first time only in 2005 on the back of Fifty Rupee Notes. Only the Hindi version of “Bhartiya Reserve Bank” appears at the back and not the English translation. The denomination of the Note is mentioned in numerals “50” on the top left hand side and bottom right hand side. The value of the Note “Pacchas Rupiye” appears in Hindi on the top right hand side and “Fifty Rupees” in English on the bottom right hand side.

This is an image of a fifty rupee Note issued during the tenure of C.Rangarajan. The Note is issued with a “Plain Inset” under the changed Mahatma Gandhi series. Notice that his name is mentioned as “M.K.Gandhi” ("Mo.Ka. Gandhi" in Hindi) below his large portrait on the right hand side, Also the Lion Capital has moved to the bottom left hand side along with the words “Satyameva Jayate” below it. The RBI symbol has now been placed to the right hand bottom corner. Also, the words “Bhartiya Reserve Bank” in Hindi are mentioned above the English translation “Reserve Bank of India”. Similarly, the Governor’s promise to pay fifty rupees to the bearer of this note is mentioned in Hindi first on the left hand side and then in English on the right hand side, unlike in the previous Note. 

(Remember that, both designs i.e. the one with the large Lion Capital on the right hand side as well as this design were issued during Dr. Rangarajan’s tenure as well as his successor Dr.Jalan’s tenure).

The back of the above Note showing a more compact and focused picture of the Indian Parliament (new design), with the flag flying on the Flagpole (perhaps, the Engravers of this new design are suggesting that now “the affairs of the Parliament” will be under more Media/public scrutiny (:-).

The numeral “50” is now mentioned at three places in the new design viz., top left and right hand sides and bottom left hand side. On the bottom left hand side the denomination of the currency Note “PACCHAS RUPIYE” is mentioned in Hindi in words and on the right hand side, “FIFTY RUPEES” is mentioned in English.

The Languages Panel has moved to the back of the Note and the number of Regional languages shown is now 15.

Again no year of issue is mentioned here.

The value of a fifty rupee note issued during Dr. Rangarajan’s tenure in mint condition would be about Rs.125/- to Rs. 200/-.

Now for a trick question :-

This is an image of a fifty rupee Note issued under the signatures of Bimal Jalan with the old design where the large/big Lion Capital, with the words “Satyameva Jayate” inscribed below it is shown on the right hand side . The note is issued with a “B” Inset. This design of Notes was issued with either “B” or “C” Insets, during Dr. Jalan’s tenure. Notice here, that on the right hand side, the letters “Yate” of “Jayate” are printed partially on the curve of the white coloured design on the bottom right hand side. The colours on this note are quite bright, so much so, that the white background design of the water-mark window on the left side is somewhat overshadowing the Regional languages which are appearing above the white pattern.

Now, take a look at this fifty rupee note which is also issued with a “B” Inset under Dr. Jalan’s signatures. Here notice that the colours on the note are somewhat dull. The “Jayate” inscription on the right hand side has now moved above the curve of the white coloured design on the bottom right hand side. Also, the languages overlapping the design in the watermark window on the left are more prominent than in the earlier note where the white pattern was more prominent.

The back of the first note showing the Indian Parliament with more prominent colours, particularly on the border of the water-mark window than the next image.

The back of the second note with slightly less prominent colours.

Now based on the above information, it would be interesting for you to analyse as to which of these two notes given above are genuine, or are both these notes genuine or whether both these notes are fake.

You want me to tell you? Sorry, I am still in the process of analyzing these notes myself, so I won’t be able to help you out (:-).

What are the clues that I am working on?? Notice that in the Note given at the beginning of this post issued during the tenure of RBI Governor, S. Venkitaramanan, the “Jayate” of “Satyameva Jayate” is above the curve of the white coloured design on the bottom right hand side. Most of the Notes issued thereafter till this “anomaly” are issued in this pattern. Does this mean that the second note given above is the genuine one? But, what about the brightness in the colours? The first note issued under Dr. Jalan’s signatures has more brightness in colours, which is more like the note issued during S. Venkitaramanan’s tenure. Does this mean that the first note is genuine?

The front side of a fifty rupee note issued with an “A” Inset during the tenure of Bimal Jalan as RBI Governor (22.11.1997 – 06.09.2003), which is similar to the previous Note issued during the tenure of C. Rangarajan except that “Mahatma Gandhi” has replaced “M.K.Gandhi” on the previous Note, showing more respect to the Father of the Indian Nation.

The above is an image of a fifty rupee note issued during Dr. Bimal Jalan’s tenure with an “E” Inset.

The above is an image of a fifty rupee note issued with“Plain Inset” during Dr. Jalan’s tenure. 

The front of a Note issued with an “L” Inset during Dr. Jalan’s tenure.

The front image of a Note issued with “R” Inset under Dr.Jalan’s signatures.

All the above mentioned Notes issued during Bimal Jalan’s tenure have the above design at the back which is similar to the design issued during Dr. Rangarajan’s tenure. Notice that no year of issue is mentioned on the back of all these Notes, as Dr. Jalan’s tenure as RBI Governor ended in September 2003.

The value of a fifty rupee Note issued during Bimal Jalan’s signatures would be about Rs.100/- to Rs.175/-.

The above is an image of a fifty rupee note issued during the tenure of Y.V.Reddy as RBI Governor (06.09.2003 to 05.09.2008). This Note is issued with an “E” Inset. “E” Inset notes were issued during Dr. Reddy’s tenure with no year of issue mentioned on the back (prior to 2005), and in 2005, 2006, 2007 and 2008.

Reverse of the above Note, showing no year of issue, this being one of the first few notes issued during Dr. Reddy’s tenure.

 The above is an image of a Note issued during Dr. Reddy’s tenure with an “F” Inset. This is the only time that a fifty rupee Note has been issued with an “F” Inset under the tenure of any RBI Governor, which I have come across. The image below indicates that there is no year mentioned at the back indicating that it was issued during the early part of Dr. Reddy’s tenure. I have managed to collect a few of these notes in mint condition. I understand that the value of these issues is substantially more than the other fifty rupee issues for collectors from this period of fifty rupee note issues.

An image of the front side of a fifty rupee note issued under Dr. Reddy’s signature with “Plain Inset”.

The back of the above note showing the year of issue as 2008 below the image of the Indian Parliament. “Plain Inset” notes in the fifty rupee denomination were, also, issued in 2005, 2006 and 2007 under Dr. Reddy’s signatures.

 
The above is an image of the front side of a 50 rupee note issued under Dr. Reddy’s signatures with an “L” Inset.

The back of the above note, showing the year of issue as 2005. “L” Inset fifty rupee notes were issued during Dr. Reddy’s tenure with no year mentioned at the back, in 2006 and 2007.

The front-side image of a fifty rupee note issued with an “R” Inset under Dr. Reddy’s signatures.

The back of the above note, showing 2008 as the year of issue. “R” Inset fifty rupee notes were also issued with no year mentioned at the back,2005,2006 and 2007 during his tenure.

The value of a fifty rupee note issued during Dr. Y.V.Reddy’s tenure would be about Rs.75/- to Rs. 150/- depending on the series/ Inset it is issued under. Also, fifty rupee notes issued with F” Inset are worth substantially more .

The following fifty rupee notes were issued during the tenure of Dr. D.Subbarao (RBI Governor 06.09.2008 – present day)

The above image is of a fifty rupee Note issued with “Plain Inset” during Dr.Subbarao’s tenure. Plain Inset fifty rupee notes were also issued during his tenure in 2010 and 2011.

The back of the above note, showing the year of issue as 2009.

The front of a fifty rupee Note issued with an “L” Inset in 2011 during Dr. Subbarao’s tenure.

The back of the above note, showing the year of issue 2011 below the image of the Indian Parliament. “L” Inset fifty rupee notes were also issued in 2009 and 2010, during his tenure.

An image of a note issued with “R” Inset during Dr.Subbarao,s tenure. 

The back of the above note, issued in 2009.

 Notes were also issued during Dr.Subbarao’s tienure with an “E” Inset in 2009 and 2010.

The value of a fifty rupee note issued during Dr. D. Subbarao’s tenure in mint condition is worth face value for later issues,  going upto Rs.75/- or Rs.100/- for earlier issues .

Posted on 08.11.2012:

I have managed to get a rupee symbol fifty rupee note from my friend Dennis in Gurgaon whom I was visiting last week.

The front of the fifty rupee note showing the rupee symbol before the numerals "50" on the top left and right hand sides of this note, while retaining the other features of the previous issues. (To view the scan with more clarity, please click on the image).

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:   

   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 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.
Posted on 28.02.2015:
The undernoted is a scan of a Rupees Fifty Banknote issued during the tenure of Raghuram G. Rajan, RBI Governor bearing the Inset "L":

The Front of the above Banknote showing the "L" Inset.

 The Back of the above Banknote showing the year of issue as 2014.
Posted on 07.03.2015: 

While sifting through my Banknotes collection, I discovered the undermentioned Rs. Fifty Banknote which was issued under RBI Governor Raghuram G.Rajan's signatures in 2013 with a Plain Inset.

The Front of the above Banknote issued in 2013 showing a "Plain" Inset.

  The Back of the above Banknote showing the year of issue as 2013.


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 17.07.2016:

I am updating this post after a long time because of my preoccupation with other posts. The indernoted is an image of a Rupees Fifty Banknote issued in 2015 with a Plain Inset:

 The Front of the above Banknote issued in 2015 showing a "Plain" Inset

  The Back of the above Banknote showing the year of issue as 2015

 The following is an image of a Rupees Fifty banknote issued with an "ascending numerals"  or "exploding font" serial number  a security feature which has been carried over to smaller denominations of Banknotes viz Rs.10, 20 and 50, after the launch of this design in the higher denominations viz. Rs.100, 500 and 1000 (which also carry the Bleed line feature on either side of the Front. 

The Front of the above Banknote issued in 2016 showing an "E" Inset which I collected a few days ago at a Provisions Store. Notice that the Serial number 261713 is in an exploding font format, while the other features of the earlier design have remained unchanged.

  The Back of the above Banknote showing the year of issue as 2016, otherwise it exhibits no change from the earlier design

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

The Front of a Rs.Fifty Banknote issued in 2015 with an "E" Inset exhibiting the exploding font features in its serial number "691149"

 The Back of the above Banknote showing the year of issue as 2015, otherwise it exhibits no change from the earlier design

 The Front of a Rs.Fifty Banknote issued in 2016 with an "E" Inset exhibiting the exploding font features in its serial number "751821"

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

 The Front of a Rs.Fifty Banknote issued in 2016 with an "R" Inset exhibiting the exploding font features in its serial number "600600".

The Back of the above Banknote showing the year of issue as 2016.This Banknote is contained in the undernoted packet of 100 pieces.

The Front of a Rs.50/- Banknote packet of 100 pieces with the exploding font serial numbers with an "R" Inset from Zaheer's collection, issued in 2016. 

 The Back of the above Rs.50/- Banknote packet showing the year of issue as "2016".

 Posted on 03.02.2017:

 I have acquired the following Banknote signed by the present RBI Governor Urjit Patel from my "Raddi Wallah" yesterday, who had kept the Note in a crumpled condition in his pocket. I am having a tough time straightening out this Banknote.:

This Banknote has been issued under RBI Press Notification 2016-2017/1403 dated  04.12.2016 and exhibits the following features:

The design and security features of this Banknote is similar to the Rs.50/- Banknotes issued earlier, except for the following changes:

- It has been printed without the intaglio print features. The numeral "50", RBI Seal, Mahatma Gandhi's portrait, Guarantee and Promise Clause, Governor's signature, Ashoka Pillar Emblem have now been printed in offset (i.e. without any raised print).

- The square shaped identification mark on the left  of the Banknote which was placed as an assist for the visually challenged persons, has now been removed.

 - There is no change in the colour on the Back, but the colour on the Front is lighter, due to the removal of intaglio printing.
 
- The vertical band on the right hand side of Mahatma Gandhi's portrait hitherto contained a latent image showing the denominational numeral "50". The latent image was visible when the Banknote was held horizontally at eye level. This feature has also been removed.

The Front of this Rs. 50/- Banknote No. "0AA 875480" exhibits the above-mentioned changes and is issued with a "Plain Inset" in 2016. This Banknote has been signed by the new RBI Governor Urjit R. Patel

 The Back of the above Banknote exhibits no changes. The year of issue is "2016" 

Posted on 09.03.2017: 

I have today acquired the following two Banknotes from a Shopping Mall Provision Store":

  The Front of this Rs. 50/- Banknote No. "2AM 893392" also exhibits the newly introduced changes and is issued with an "L" and is issued with an "L" Inset in 2016. This Banknote has been signed by the new RBI Governor Urjit R. Patel. This Banknote has been notified to the users vide RBI Press Release 2016-2017/1578  dated 19.12.16

  The Back of the above Banknote exhibits no changes. The year of issue is "2016"

  The Front of this Rs. 50/- Banknote No. "4BQ 616257" also exhibits the newly introduced changes and is issued with an "L" and is issued with an "L" Inset in 2017. This Banknote has been signed by the new RBI Governor Urjit R. Patel

   The Back of the above Banknote exhibits no changes. The year of issue is "2017"

Posted on 05.07.2017:  
I collected the undernoted Banknote issued in 2017 from a vegetable vendor a few days ago. Recent Banknote issues of various denominations are coming out so fast off the Printing Presses, that RBI Press releases are not able to match the output of the Printing Presses. As a result, no Press notification has been released for this Banknote issue too, confirming that these notes are legal tender:

The Front of this Rs. 50/- Banknote No. "0CP 166260" issued in 2017 also exhibits the newly introduced changes and bears a "Plain". This Banknote has been signed by the new RBI Governor Urjit R. Patel

  The Back of the above Banknote exhibits no changes. The year of issue is "2017" 

Posted on 19.08.2017: On 18.08.2017, Reserve Bank of India has  through its Press Release No: 2017-2018/481 inter alia advised as under:

RBI Introduces ₹ 50 banknote in Mahatma Gandhi (New) Series:

The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr.Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Hampi with Chariot on the back, depicting the country’s cultural heritage. The base colour of the note is  Fluorescent Blue. The note has other designs, geometric patterns aligningwith the overall colour scheme, both at the front and back. All the banknotes in the denomination of ₹ 50/- issued by the Reserve Bank in the earlier series will continue to be legal tender. The image and salient features of ₹ 50 denomination banknote in the Mahatma Gandhi (New) Series are as under: Salient Features Obverse (Front): 1. See through register with denominational numeral 50 2. Denominational numeral ५० in Devnagari 3. Portrait of Mahatma Gandhi at the centre 4. Micro letters ‘RBI’, ‘भारत’, ‘INDIA’ and ‘50’ 5. Windowed demetalised security thread     with inscriptions ‘भारत’ and RBI  6. Guarantee Clause, Governor’s signature     with Promise Clause and RBI emblem towards     right of Mahatma Gandhi portrait 7. Ashok Pillar emblem on the right 8. Mahatma Gandhi portrait and electrotype (50) watermarks, 9. Number panel with numerals growing from small to big on the top left side and bottom right side. Reverse (Back): 10. Year of printing of the note on the left 11. Swachh Bharat logo with slogan 12. Language panel 13. Motif of Hampi with Chariot 14. Denominational numeral ५० in Devnagari Dimension of the banknote will be 66 mm x 135 mm. Posted on 14.10.2017: After asking at several vendor locations/stores, petrol pumps etc. I have managed to get hold of the undernoted new design Rs.50/- Banknote: The Front of the recently introduced new design Rs.50/- Banknote issued with a "Plain Inset" bears the Serial No. "0AD 003899 "and exhibits all the features mentioned above The Back of the above Banknote exhibits the year of issue as "2017" and all the other features given above Posted on 05.11.2017: I have come across the undernoted Rs.50/- Banknote at an ice-cream vendor's outlet yesterday: This Rs.50/- Banknote issued with an "L" Inset and  Serial No. "1AC 354363" and exhibits all the features of the newly introduced series in 2017. The Back of the above Banknote exhibits the year of issue as "2017" and a chariot stone carving located at Hampi. Posted on 13.11.2017: The undernoted Banknote with an "R" Inset has been brought for me by Chetali from Kanpur: This Rs.50/- Banknote issued with an "R" Inset and  Serial No. "7AD 158712" and exhibits all the features of the newly introduced series in 2017. The Back of the above Banknote exhibits the year of issue as "2017" and a chariot stone carving located at Hampi.

Posted on 13.05.2018:

I noticed that I had picked up this interesting worn-out Banknote with a "*" in its number panel, issued under the signature of ex-RBI Governor, D. Subba Rao. "*" series banknote packets have 100 pieces as usual, but these are not in Serial order.

They are issued in lieu of misprinted Banknotes to keep tabs on how many error notes were printed at the particular Printing Press and whether any corrective measures are required to be taken/implemented.

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 numbered but contain 100 pieces as usual.

To facilitate easy identification of the Banknote packets containing "star" marked packets, 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".

Interestingly, these Banknotes command a much higher premium than their face value (three to ten times their face value) and some of them can even fetch Rs.15,000/- to Rs. 50,000/- in mint condition depending on their rarity and are much sought after by Collectors.

The above worn-out Rs.50/- Banknote bears a Serial No. "3CC * 998050" and has been issued with an "L" Inset

The Back of the above Banknote shows the year of issue as "2013" (image below)

       

Posted on 01.12.2018:

I have collected my first Rs.50/- Banknote for the year 2018 a few days ago:

The above Rs.50/- Banknote bears the Serial No. "5MQ 113656" and has been issued with an "L Inset". It exhibits all the design element features introduced recently in this denomination of Banknotes. This Banknote has been issued in "2018"

The Back of the above Rs.  50/- Banknote exhibits the year of issue  as "2018" and bears all the recently introduced design elements in this denomination of Banknotes

Posted on 31.12.2018:

I got the undernoted Rs.50/- Banknote in exchange for a similar denomination old design Banknote from a vegetable vendor. Though slightly worn out with use, this is my only Banknote with a "Plain" Inset:

The above Rs. Fifty Banknote bears the Serial no. "5EG 907813" and has been issued with a "Plain Inset". It has all the design elements of and is similar to the new design Banknotes of the Mahatma Gandhi (New) Series of Banknotes. This Banknote has been issued in "2018" under the signatures of Dr. Urjit R. Patel, ex-RBI Governor

The Back of the above Banknote exhibits the year of issue as "2018"



Posted on 21.05.2019:

Yesterday, I was at the nearby mall collecting provisions. While exiting the mall & paying the toll for parking the car in the Mall Car-park area, I noticed that this new design Banknote has a "*" in its serial number panel. Though slightly worn out, owing to being used and folded by users not knowing about "*" Series Banknotes, it has been issued under the signatures of ex-Reserve Bank of India Governor, Urjit R. Patel in 2017. 

To recapitulate, "*" series Banknote packets have 100 pieces as usual, but there are not numbered in serial order.

"*" series Banknotes are issued in lieu of misprinted Banknotes to keep tabs on how many error notes were printed at the particular Banknote Printing Press/facility and whether any corrective measures are required to be taken/implemented.

The "*" Series Banknotes look exactly like the existing Mahatma Gandhi "new" Series of Banknotes, but have an additional character viz., a "*" (star) in the number panel in the space between the prefix and the serial number.

The packets containing these Banknotes are, therefore, not serially numbered but contain 100 pieces as usual.

To facilitate easy identification of the Banknote packets containing "*" marked Banknotes, the bands on such packets clearly indicate the presence of such Banknotes and carry a message "contains non-serially numbered banknotes with a * in the number panel."

Interestingly, these Banknotes command a much higher premium than their face value (three to ten times over their face value) and some of them can even fetch Rs.15,000/- to Rs.50,000/- in mint condition, depending on their rarity and are muh sought after by Collectors.

This Banknote bears the Serial No. "0CC* 371821" and has been issued under the "Mahatma Gandhi New Series" of Banknotes, and has been issued with an "L Inset" and a "*" in its serial number. 

It exhibits all the other design features and is identical to the new design Rs.50/- Banknotes issued under this Series. This Banknote has been issued in "2017" and bears the signature of Dr. Urjit R. Patel, ex-RBI Governor

The Back of the above Banknote exhibits the same design elements as the other Banknotes issued in this series and shows the year of issue as "2017"

Posted on 22.08.2019:

Zaheer Hasan who is an avid Banknote Collector, has sent me the following images of Rs.50/- Banknotes issued in 2019 under the signatures of Shri Shaktikanta Das, the present RBI Governor:

The Front of this Rs.50/- Banknote issued with a "Plain Inset" and bearing Serial no. "1AK 626786" shows the signature of Shri Shaktikanta Das, present RBI Governor. It exhibits all the design elements introduced in the Mahatma Gandhi "New" Banknotes of this denomination of Banknotes. This Banknote has been issued in "2019".

The Front of this Rs.50/- Banknote issued with an "R Inset" and bearing Serial no. "6AL 568376" displays the signature of Shri Shaktikanta Das, present RBI Governor. This Banknote has been issued in "2019", under the Mahatma Gandhi "New" Series of Banknotes

The Backs of the two Rs.50/- Banknotes, shows the year of issue as "2019" at left centre

 Links to other posts on Indian Currency denominations on this blog:

1) Introduction of the new Rs.2000/- denomination in Indian Currency circulation wef 10.11.2016 

2) Classification and Valuation of Rs.1000/- denomination Banknotes 

 3) Classification and Valuation of Rs.500/- Banknotes

  4)Classification and Valuation of Rs.100/- Notes

5) Classification and Valuation of Rs.50/- Notes 

6) Classification and Valuation of Rs.20/- Notes 

7) Classification and Valuation of Rs.10/- Notes 

8) Classification and Valuation of Rs.5/- Notes 

9) Evolution and Valuation of one Rupee Banknotes in India

10) Did-you-know-series-1: Assists for identification of Currency Notes by visually challenged users 

11) Did-you-know-series-2-what-is-design-or focus of the picture at the back of circulating Currency Notes in India? 

12) Are you carrying a Fake Rs.500/- Banknote in your purse/wallet?: A comprehensive study 

13) Introduction of a Rs.200/- Banknote wef 25.08.2017: Reasons for introduction, Necessity & convenience to Users

Some interesting links on Indian coins on this Blog:

1) Independent India issues: The evolution of the One Rupee Coin, the staedy building block of the Indian Monetary System

2) The Frozen Series and the early Indian Government issues

3) The Indian Coinage Act 1957 and the Decimal Series - 1957-64

4) The Aluminium Series 1964-1999

5) Independent India issues: The introduction and experiments of social themes on the two-rupee coins

6) Foreign mints which have minted coins for India and identification of their mint marks

7) Indian Mints & their mint marks

8) The introduction and stabilisation of the Five Rupee Coin in the Indian context

8) Independent India issues: 25 Paise Coins: the journey from usage over five decades to stepping into history

9) Fifty Paise Coin: The lowest denomination coin presently in circulation: Is it next on the chopping block?

10) Post Independence India Issues: Commemorating Sports in Indian Coinage

11) A Proof Coin set of Indian Coins from 1973, issued by the then Bombay Mint (present day Mumbai Mint), which includes Coins in the denominations of 1 Paise to 20 Rupees