RBI readies new banknote designs; Board takes stock of economy

Currency notes in India may soon carry a new look with the central board today recommending to the government a new set of designs for banknotes.
The central board of the apex bank also took stock of the macro-economic situation and reviewed issues related to cyber security and currency management at a meeting held here.
The central bank said in a statement that the board discussed the national and international macroeconomic scenario and also reviewed the working of specific areas of operations of RBI, including information technology and cyber security, and establishment of IT subsidiary of the RBI.
Operations relating to government's banking business, statistical and information management related activities, customer complaints in respect of banking services and currency management operations were also reviewed.

"Certain other issues of immediate concern to the working of the Bank were also discussed and approved. The Central Board also discussed and recommended to the Government a set of designs for the new banknotes series which, on approval from the Government, will be introduced in due course," the statement said.
It, however, did not divulge any further details about the banknote designs.
The 557th meeting of the Central Board was chaired by RBI Governor Raghuram Rajan, and attended by the four deputy governors among others.
Shaktikanta Das, Secretary, Department of Economic Affairs, who is government nominee director on the Board also attended the meeting.