News India Live, Digital Desk: Currency design: The Reserve Bank of India (RBI) has announced that it will soon issue a bank note of Rs 20 in the Mahatma Gandhi (New) series, which will be signed by the new RBI Governor Sanjay Malhotra. This information was given in an official statement.
The existing design and features of the existing ₹ 20 notes will remain in the new notes, except the signature of the updated governor. The RBI also clarified that all ₹ 20 bank notes issued earlier will remain valid currency. Sanjay Malhotra was appointed as the RBI Governor for a three -year term from December 11, 2024.
Valid currency refers to coins or bank notes that are legally accepted for discharge of debt or obligations. According to the central bank, every bank note issued by the Reserve Bank of India-until it is withdrawn from the trend-is a valid currency in the whole of India for the amount mentioned and under the provisions of sub-section (2) of Section 26 of the RBI Act, 1934, it is guaranteed by the Central Government. The ₹ 1 note issued by the Government of India is also considered a valid currency.
Banks are printed in four currency presses: two are owned by the Government of India, which are through Security Printing and Minting Corporation of India Limited (SPMCIL), and are owned by two Indian Reserve Banks, which are through its full -owned subsidiary, Indian Reserve Bank of India Note Printing Private Limited (BRBNMPL). SPMCIL Mudra Presses are located in Nashik (Western India) and Dewas (Central India), while BRBNMPL Presses are located in Mysore (Southern India) and Salboni (Eastern India).
Coins are molded in four mints owned by SPMCIL, located in Mumbai, Hyderabad, Kolkata and Noida. According to Section 38 of the RBI Act, coins are issued only for circulation through the Reserve Bank.
To facilitate the distribution of bank notes and coins, RBI has authorized selected scheduled banks to install currency chests – a warehouse where bank notes and coins are stock by the Reserve Bank for distribution in bank branches in their operational sector. As of 28 February, 2025, there were 2,691 currency chests in the country.
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