The RBI is expected to start printing redesigned Rs 100 currency notes around April next year say media reports.
A central bank official shared this information with media, on condition of anonymity.
Hindustan Times reported that printing of these new notes will begin once the press finishes printing the new Rs 200 notes by the end of the financial year in March. This will be done in order to boost lower denomination supply, said the report.
The central bank official stated that the existing Rs 100 currency notes will remain in the system for a while, before being withdrawn gradually without any disruption, reported HT.
The size and dimensions of the new notes will also remain unchanged.
According to the HT report, the government tends to redesign bank notes to eliminate chances of hoarding and catch tax evaders. In December, RBI officials had informed that all currency notes will be redesigned.
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)