New Rs 50 Notes Featuring RBI Governor Sanjay Malhotra to Be Released Soon
New Rs 50 Notes Featuring RBI Governor Sanjay Malhotra to Be Released Soon
The Reserve Bank of India (RBI) is set to issue Rs 50 banknotes in the Mahatma Gandhi (New) Series, featuring the signature of the newly appointed Governor Sanjay Malhotra, as announced in a release on Wednesday. The RBI noted that the design of these new notes will be identical to the existing Rs 50 banknotes in the same series. Additionally, all previously issued Rs 50 banknotes will remain valid as legal tender.
Sanjay Malhotra, a 56-year-old civil servant, took over as the RBI governor for a three-year term starting December 11, 2024, succeeding Shaktikanta Das, who served for six years. Before his appointment at the RBI, Malhotra held the position of India’s Revenue Secretary.
In his first Monetary Policy Committee meeting since assuming office, Malhotra announced a rate cut of 25 basis points, lowering the repo rate from 6.5 percent to 6.25 percent. This marks the first reduction in the repo rate by the RBI Monetary Policy Committee after 12 consecutive meetings.
The Mahatma Gandhi (New) series Rs 50 note has dimensions of 66 mm x 135 mm and features a bright blue base color. On the back, it depicts a chariot from Hampi, showcasing India’s rich cultural heritage.
