RBI Current Affairs

RBI to issue new 100 rupee notes in lavender colour

Reserve Bank of India (RBI) will shortly issue new Rs. 100 denomination banknotes in lavender colour in Mahatma Gandhi (New) Series. This comes on back of new designs introduced for Rs 200, Rs 500 and Rs 10 notes, in the last couple of years. The old Rs 100 notes in the earlier series will also continue to be legal tender along with new notes.

Key Features of new Rs. 100 note

The front side of new Rs. 100 note depicts Mahatma Gandhi’s face and back side featuresmotif of “RANI KI VAV”, highlighting the country’s cultural heritage. Rani ki Vav, a UNESCO world heritage stepwel site in Patan, Gujarat built in memory the 11th century king Bhima.

The dimension of new note is 66 mm × 142 mm, which will be the same as the other new notes of Rs 200, Rs 500 and Rs 10 released earlier. Like every other currency note, it also has a portrait of Mahatma Gandhi at the centre. It has security thread with inscriptions, ‘भारत’ and RBI. If the note is tilted, the colour changes from green to blue.

Right side of Mahatma Gandhi portrait includes guarantee clause, Governor’s signature with promise clause and RBI emblem. Ashoka Pillar emblem is on right side of note. The top left side and bottom right side have number panel with numerals in ascending font.

Mahatma Gandhi portrait and electrotype (100) watermarks and it also has Swachh Bharat logo with slogan. It also has certain features incorporated for the visually impaired. These include intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised triangular identification mark with micro-text 100, four angular bleed lines on the right and left sides.


RBI proposes Board of Management for urban co-operative banks

The Reserve Bank of India (RBI) has proposed setting up of Board of Management (BoM) in all Urban Co-operative Banks (UCBs) having deposits of over Rs 100 crore within one year to strengthen governance and promote professional management in these banks.

BoM will be in addition to the Board of Directors (BoD). The BoD will continue to be apex policy setting body and constitute various committees of board including BoM to assist it to carry out its functions.

Key Facts

Functions: BoM will look after all administrative functions of UCBs as spelt out in respective Co-operatives Act. It will be responsible for credit, risk and liquidity management of UCBs. It will consider loan proposals, recommend action for recovery of bad loans, implement sound internal controls and oversee compliances, among others.

Composition: BoM will be constituted by BoD. BoM will have  minimum of 3 members in UCBs having deposit size up to Rs 100 crore and 5 members in UCBs having deposit size above Rs 100 crore. The maximum number of members in BoM will not exceed 12. Not more than 50% of BoM members should be from BoD. Under all circumstances, BoM should have atleast two members outside from BoD.

Criteria: 50% of the members of BoM will consists of persons having special knowledge or practical experience in respect of one or more of the following matters such as accountancy, agriculture and rural economy, banking, co-operation, economics, finance, law, small scale industry, information technology and other matter the special knowledge useful to UCB.

Implementation: Existing UCBs having deposit size exceeding Rs 100 crore will set up BoM within period of 1 year and banks less than it may constitute BoM within 2 years.


The expert committee on licensing new urban co-operative banks (2010) constitued under chairmanship of YH Malegam had recommended that BoM should be constituted in every UCB, in addition to BoDs. This was reiterated by  high powered committee on UCBs headed by R. Gandhi constituted in January 2015 by RBI. Under the present legal framework, BoD of UCB performs both executive and supervisory roles and has responsibility to oversee functioning of UCB as cooperative society and as a bank.