Reserve Bank of India to soon issue new Rs 20 notes. The Reserve Bank of India (RBI) has said that the bank will soon issue Rs 20 banknotes in the Mahatma Gandhi (New) Series bearing the signature of Governor Sanjay Malhotra.
The design of these notes is similar in all respects to the Rs 20 banknotes in the Mahatma Gandhi (New) Series. All Rs 20 banknotes issued by the Reserve Bank in the past will continue to be legal tender.
RBI has issued a notification which says, ‘The Reserve Bank of India will soon issue Rs 20 banknotes in the Mahatma Gandhi (New) series bearing the signature of Governor Sanjay Malhotra. The design of these notes is similar to the Rs 20 banknotes of the Mahatma Gandhi (New) series.’ This means that the new note will look similar to the old note and the old notes will also remain in circulation as before.
Old 20 rupee notes will be valid
RBI has clearly stated that all the 20 rupee notes issued earlier will remain valid for transactions as they were. Irrespective of the signature of any governor on them. Issuing new notes with the signature of the new governor is a normal process, which happens after the change in the top leadership of RBI and this change and the issuance of new notes does not affect the utility or value of the old notes.
Let us tell you that the Reserve Bank of India, RBI keeps changing the notes from time to time. These changes are made for security reasons and to improve the notes. But, the old notes are always valid. Therefore, you do not need to worry. The 20 rupee notes you have will be used in the same transactions as you have been doing.
