Political and Democracy Bureau

Yes, this is true that the Reserve Bank of India (RBI) has announced that it will be issuing new notes of denominations of Rs 20 and Rs 50 soon. The new notes will bear the signature of newly appointed governor Urjit Patel. The notes will be issued in Mahatma Gandhi Series- 2005. For now, the RBI will issue Rs 20 new notes, while Rs 50 notes will be issued later.

"The design and security features of these banknotes will be similar to the banknotes of Rs 20 denomination with the ascending font of numerals in both the number panels and without intaglio print issued earlier in Mahatma Gandhi Series- 2005." RBI said in a release. 

So far, the government has not announced any plan to ban old Rs 20 and Rs 50 notes in the market. The new notes will be circulated in the marked, while your old currency of Rs 20 and Rs 50 will be valid and acceptable. So you, do not need to worry about it. you may keep using your old currency.