RBI To Issue New Rs 10 And Rs 500 Notes Bearing Governor Sanjay Malhotra’s Signature

The Reserve Bank of India (RBI) is set to issue new Rs 10 and Rs 500 denomination banknotes in the Mahatma Gandhi (New) Series, featuring the signature of the newly appointed RBI Governor, Sanjay Malhotra. According to the central bank, the design and security features of these notes will remain unchanged and will be identical to the existing Rs 10 and Rs 500 banknotes already in circulation under the same series.

Will Existing Rs 10 And Rs 500 Notes Remain Valid?

Absolutely, RBI has confirmed that all previously issued Rs 10 and Rs 500 notes in the Mahatma Gandhi (New) Series will continue to be legal tender. This move is a routine update to reflect the signature of the current Governor and does not invalidate earlier versions of the same denominations.

This clarification is important for businesses, retailers, and the general public to avoid any confusion regarding the validity of older notes.

Background: Similar Updates In The Past

Last month, the RBI announced the issuance of new Rs 50 banknotes bearing signature of Sanjay Malhotra, who took over as the 26th Governor of the RBI in December 2024, succeeding Shaktikanta Das. These notes, too, maintained the existing design of the Rs 50 denomination in the Mahatma Gandhi (New) Series.

Why Does RBI Issue Notes With The New Governor's Signature?

The issuance of currency notes with the signature of the incumbent Governor is a standard practice by the RBI, ensuring monetary consistency and reflects the change in leadership at the central bank. These new notes gradually enter circulation through banks, ATMs, and other financial institutions.

What Is The Mahatma Gandhi (New) Series?

The Mahatma Gandhi (New) Series of currency notes was introduced on November 8, 2016, following the demonetization of the old Rs 500 and Rs 1,000 notes. The new series features enhanced security features, redesigned aesthetics, and highlights India's rich cultural and historical heritage through imagery of heritage sites.

The banknotes in the Mahatma Gandhi (New) Series are designed to be more wallet-friendly, featuring reduced dimensions that not only improve portability but also help minimize wear and tear over time. For the first time, the designs have been indigenously conceptualized, showcasing themes that reflect India's diverse cultural heritage, historical milestones, and scientific achievements.

The notes feature vivid and distinct colour schemes, making each denomination easily recognizable and visually appealing. The first banknote in this series, the Rs 2000 note, was introduced on November 8, 2016, shortly after the demonetization announcement. It carried the theme of Mangalyaan, commemorating India's space achievements. Since then, additional denominations-Rs 500, Rs 200, Rs 100, Rs 50, Rs 20, and Rs 10-have been rolled out, each with unique thematic representations.

These notes include enhanced security features such as watermark, security thread, see-through register, colour-shifting ink, electrotype watermark, micro lettering, and bleed lines for the visually impaired.