Reserve Bank of India (RBI) announced on Sunday that it will soon issue new banknotes of Rs 50 and Rs 20 denomination. 

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"The Reserve Bank of India (RBI) will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi Series-2005, with inset letter ‘L’ in both the number panels, bearing signature of Dr Urjit R Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote," cited the central bank in a press release. 

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Also, it will issue new Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005,with numerals in ascending size in number panels, and without intaglio printing.

"The Reserve Bank of India will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr Urjit R Patel, Governor, Reserve Bank of India (RBI), and the year of printing '2016' printed on the reverse of the banknote," RBI said in a separate release on Sunday.

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