Indian benchmark indices decline on Friday, RBI says will issue new Rs 50 note soon

Friday was marred by a bitter feud at Infosys, one of India's leading IT services provider, between the company's board and the company's founder N Narayana Murthy, following the resignation of the company's CEO and MD Vishal Sikka.

The company's Chief Operating Officer UB Pravin Rao has been appointed as the interim MD and CEO while Sikka has been appointed as Executive Vice-Chairman, according to media sources.

The Murthy versus Sikka feud also had a negative impact on the company's share price.

In Europe, share prices took a beating on Friday morning with investors worrying over the spate of terror attacks in Spain, media reported.

On Friday, the top gainers among Indian stocks included HUL, Bharti Infratel, TCS, Bharti Airtel, Ultratech Cement, ITC, BPCL, Eicher Motors and Reliance while Infosys, Sun Pharma, Zee Entertainment, Vedanta, NTPC, Coal India and Lupin declined.

The Reserve Bank of India (RBI), on Friday, announced that  it will shortly issue rupees 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India.

The new denomination has motif of Hampi with Chariot on the reverse, depicting the country’s cultural heritage.

The base colour of the note is Fluorescent Blue. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.

All the banknotes in the denomination of rupees 50 issued by the RBI in the earlier series will continue to be legal tender.

Image: RBI website