Legal tender with its own rial in 1970. On 8 November 2016, Prime Minister Narendra Modi announced that existing INR 500 and INR 1000 banknotes would no longer be accepted as legal tender with a view to curb counterfeiting, tax evasion and the parallel economy. The Reserve Bank of India outlined a scheme for holders of such banknotes to either deposit them into their bank accounts for full, unlimited value, or to exchange the banknotes for new, subject to a cap. New Zealand has a complex history of legal tender. English law applied, as applicable to local circumstances, from either 6 January
Bank of England note issues made. In September 2015 the Bank of England announced that the next £20 note will be printed on polymer, rather than cotton paper. This was followed by an announcement in April 2016 that Adam Smith will be replaced by artist J. M. W. Turner on the next £20 note which will enter circulation in 2020. Images on the reverse of the new note will include a 1799 self-portrait of Turner, a representation of his painting "The Fighting Temeraire", the quotation "Light is therefore colour" from an 1818 lecture by him, and a copy of Turner's signature as made on his