The Reserve Bank of India announced that it will soon issue Rs 20 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 Rs 20 notes in circulation, except for the new governor’s signature. The RBI also clarified that all previously issued Rs 20 banknotes will continue to be legal tender, as per the statement.
Sanjay Malhotra was appointed as the RBI Governor, effective from December 11, 2024, and will continue for three years. Legal Tender is a coin or a banknote that is legally tenderable for discharge of debt or obligation.
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According to the central bank, every banknote issued by Reserve Bank of India, unless withdrawn from circulation, are legal tender at any place in India in payment or on account for the amount expressed therein, and shall be guaranteed by the Central Government, subject to provisions of sub-section (2) Section 26 of RBI Act, 1934. Rs 1 notes issued by Government of India are also Legal Tender.
Bank notes are printed at four currency presses, two of which are owned by the Government of India through its Corporation, 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 currency presses of SPMCIL are at Nasik (Western India) and Dewas (Central India). The two presses of BRBNMPL are at Mysuru (Southern India) and Salboni (Eastern India).