By The Reserve Bank of India (RBI) has recently announced the issuance of new ₹10 and ₹500 banknotes bearing the signature of Governor Sanjay Malhotra. This development follows earlier releases of ₹50, ₹100, and ₹200 notes with the Governor’s signature, aligning with the RBI’s tradition of updating currency notes to reflect the current leadership.
Introduction of New ₹10 and ₹500 Banknotes
On April 4, 2025, the RBI declared its intention to issue new ₹10 and ₹500 denomination banknotes featuring the signature of Governor Sanjay Malhotra. These notes will be part of the Mahatma Gandhi (New) Series and will retain the existing designs. The central bank emphasized that all previously issued ₹10 and ₹500 banknotes will continue to be legal tender.
Prior to this, the RBI had announced the issuance of ₹50 banknotes with Governor Malhotra’s signature on February 12, 2025. This was followed by the introduction of ₹100 and ₹200 banknotes bearing his signature in March 2025. In each instance, the RBI maintained that the designs would remain consistent with the existing Mahatma Gandhi (New) Series, and earlier versions of these notes would remain valid.
Clarification on ₹10 and ₹500 Banknotes:
As of the current date, there have been no official communications from the RBI about issuing new ₹10 or ₹500 banknotes with Governor Malhotra’s signature. The most recent update for the ₹10 note occurred in January 2018, when the RBI introduced the Mahatma Gandhi (New) Series ₹10 note bearing the signature of then-Governor Urjit R. Patel. Similarly, previous updates to the ₹500 note have not included announcements pertaining to Governor Malhotra’s signature
About RBI Governor Sanjay Malhotra
Sanjay Malhotra assumed the role of the 26th Governor of the Reserve Bank of India in December 2024, succeeding Shaktikanta Das. Prior to his appointment, Malhotra served as the Secretary in the Department of Financial Services, Ministry of Finance, where he played a pivotal role in formulating policies related to banking and financial institutions. His extensive experience in the financial sector is expected to bring valuable insights to the central bank’s operations.
Why Banknotes Are Updated with New Signatures
It is customary for the RBI to issue new banknotes featuring the signature of the incumbent governor. This practice serves to authenticate the currency and reflects the current leadership of the central bank. While the signature changes, the overall design, security features, and specifications of the banknotes typically remain unchanged, ensuring continuity and ease of recognition for the public.
Design Consistency and Security Features
The new ₹10 and ₹500 notes will maintain the design elements of the Mahatma Gandhi (New) Series. This series is known for its enhanced security features, including watermarks, security threads, latent images, and color-shifting ink, all aimed at preventing counterfeiting and ensuring the integrity of the currency. By retaining the existing design, the RBI ensures that the public can easily recognize and trust the new notes.
Legal Tender Status of Older Notes
The RBI has consistently reassured the public that all previously issued banknotes across various denominations remain legal tender. This means that older notes will continue to be valid for all transactions, and there is no requirement for the public to exchange them for new ones. This approach helps maintain public confidence and ensures a smooth transition whenever new notes are introduced.
Currency Modernization Continues
The issuance of new ₹10 and ₹500 banknotes bearing Governor Sanjay Malhotra’s signature is part of the RBI’s ongoing efforts to update and modernize India’s currency system. By introducing notes with the current governor’s signature while retaining familiar designs and security features, the RBI aims to ensure both authenticity and continuity in the nation’s currency. The public can continue to use both new and existing banknotes with confidence, knowing that all remain valid and secure.
