RBI announces new 1 Rupee note: All you need to know

New Delhi : Centre has announced a new currency note of Rs 1, keeping the old one valid as a legal tender. The new Rs 1 note will have an image of the Sagar Samrat oil exploration rig, say officials.

"These currency notes are legal tender as provided in the Coinage Act 2011. The existing currency notes in this denomination in circulation will also continue to be a legal tender," Reserve Bank of India said in its release.

The printing of Rs 1 note was discontinued approximately 20 years back. "These currency notes are legal tender as provided in The Coinage Act 2011," RBI added in its release.

Key features of the new Rs 1 currency note:

1: The new notes will be in dual colour pink-green with the representation of the one rupee coin on the reverse of the note.

2: The new notes will bear the bilingual signature of economic affairs secretary Shaktikanta Das.

3: Upfront, the note will have a floral design upon which 'Ek rupaiya' will be printed.

4: Beside the imprint, fifteen Indian languages will render the note’s value.

5: The new currency note has been announced to ensure shopkeepers are not replacing them with chocolates and candies on the excuse of no change.

This move comes after the government introduced new Rs 500 and Rs 2000 notes in November, last year as part of its demonetisation drive.

In the currency scrapping of 2016, the old notes of Rs 500 and Rs 1000 were junked as the government tried to crackdown on black money.