Mumbai: The Reserve Bank of India on Wednesday announced that it will soon release Rs 50 denomination banknotes which will have the signature of RBI Governor Sanjay Malhotra. Malhotra was appointed as the RBI head in December 2024. He replaced Shaktikanta Das who demitted office after completion of his extended term.
“The design of these notes is similar in all respects to Rs 50 banknotes in Mahatma Gandhi (New) Series,” the RBI said in a statement. The banking authority made it clear that all banknotes in the denomination of Rs 50 issued by the Reserve Bank in the past will continue to be legal tender.
98.12% of Rs 2,000 notes returned: RBI
In January 2025, The Reserve Bank informed that 98.12 per cent of the Rs 2000 banknotes have been returned to the banking system. However, Rs 6,691 crore worth such high denomination notes, which are no longer legal tender, are still with the public.
On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The central bank authority informed that the total value of Rs 2000 banknotes in circulation was Rs 3.56 trillion at the close of business on May 19, 2023, PTI mentioned.
“Thus, 98.12 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned,” RBI said in a statement.
The Reserve Bank had allowed deposit or exchange of the Rs 2000 banknotes at all bank branches till October 7, 2023. Presently, the Rs 2000 banknotes can be deposited at the 19 issue offices of the Reserve Bank.
The Reserve Bank of India (RBI) has announced the release of new Rs 50 banknotes bearing the signature of Governor Sanjay Malhotra. The design mirrors the Mahatma Gandhi (New) Series Rs 50 notes. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
