RBI’s New ₹10 and ₹500 Notes: The Reserve Bank of India (RBI) is going to issue new notes of Rs 10 and 500. Rs10 and 500 rupee notes will be issued in the new series of Mahatma Gandhi. Reserve Bank Governor Sanjay Malhotra will sign these notes. Earlier, it was reported that the RBI would issue new notes of Rs 100 and Rs 200.
In its latest update, the central bank said that the design of these notes will be the same as the Mahatma Gandhi (New) series of Rs 10 and Rs 500 notes. All the Rs 10 and Rs 500 notes issued earlier by the Reserve Bank will remain legal tender. The new notes will be signed by RBI Governor Malhotra.
RBI issues new notes in some cases. For example, the currency notes in the market have become ancient, the design of the notes has been changed, or some notes are being withdrawn from circulation. As seen during demonetization. The Reserve Bank has clarified that the introduction of new Rs 10 and Rs 500 notes will not affect the existing old notes in the market. Notes existing in the market earlier will remain valid and will not be discontinued.
Last month it was reported that the RBI will soon issue new notes of Rs 100 and Rs 200. As soon as this news came out, the discussion had started: What will happen to the old notes? Then the central bank said that there would be no change in the design of these notes. The change will only take the signature of the RBI Governor. Sanjay Malhotra has taken over as the Governor of the Reserve Bank. So 100 and 200 new notes bearing his signature will be issued. It is a normal procedure that after the appointment of a new governor, a note bearing his signature is issued. This will not affect the existing notes.
Demonetization took place in November 2016. Under this, 500 and 1000 rupee notes were taken out of circulation. Later the government came up with a 2000 rupee note. ATM machines have been changed for this note. However, in May 2023, the RBI decided to demonetize the Rs 2000 note as well. At the time when it was decided to stop the 2000 rupee note, the amount of 2000 rupee notes in circulation was more than three and a half lakh crore rupees.
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