The central bank has already issued new look currency notes in the denominations of Rs 10, Rs 50, Rs 100, and Rs 500, besides introducing Rs 200 and Rs 2,000 bank notes.
The new look notes are being introduced since November 2016 under Mahatma Gandhi (New) series. These are different in size and design compared to the notes issued previously.
The currency notes, except for banned Rs 500 and Rs 1,000, issued under old series continue to remain legal tender.
According to the RBI data bank, there were 4.92 billion pieces of Rs 20 note in circulation as on March 31, 2016. The number more than doubled to about 10 billion pieces by March 2018.
The Rs 20 notes accounted for 9.8 per cent of the total number of currency notes in circulation at the end of March 2018.
Recently, it has been reported that the central bank may soon issue Rs 1,000 denomination bank notes it had discontinued in November 2016.
According to a DNA Money report, the all-new Rs 1,000 currency note will come with enhanced security features and a new design.
The introduction of Rs 1000 notes could further ease daily transactions as the absence of any denomination between Rs 500 and Rs 2000 at present often make small transactions difficult.
There were many reports soon after demonetisation that the government would eventually re-issue Rs 1000 notes, but months later there is still no official confirmation.