Mumbai, May 19: The Reserve Bank of India (RBI) has announced that it will soon issue ā¹20 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of the new RBI Governor, Sanjay Malhotra, according to an official statement.The new notes will retain the existing design and features of the current ā¹20 notes in circulation, except for the updated governorās signature. The RBI also clarified that all previously issued ā¹20 banknotes will continue to be legal tender. Sanjay Malhotra was appointed as the RBI Governor effective December 11, 2024, for a tenure of three years.
Legal tender refers to coins or banknotes that are legally accepted for the discharge of debts or obligations. According to the central bank, every banknote issued by the Reserve Bank of Indiaāunless withdrawn from circulationāis legal tender across India for the amount stated on it and is guaranteed by the Central Government, subject to the provisions of sub-section (2) of Section 26 of the RBI Act, 1934. ā¹1 notes issued by the Government of India are also considered legal tender.
Banknotes are printed at four currency presses: two are owned by the Government of India through the Security Printing and Minting Corporation of India Ltd. (SPMCIL), and two are owned by the Reserve Bank through its wholly owned subsidiary, Bharatiya Reserve Bank Note Mudran Private Ltd. (BRBNMPL). The SPMCIL currency presses are located in Nasik (Western India) and Dewas (Central India), while the BRBNMPL presses are located in Mysuru (Southern India) and Salboni (Eastern India).
Coins are minted at four mints owned by SPMCIL, located in Mumbai, Hyderabad, Kolkata, and NOIDA. Coins are issued for circulation only through the Reserve Bank, in accordance with Section 38 of the RBI Act.