The Reserve Bank of India (RBI) has announced that it will soon issue new notes of Rs 10 and 500 in Mahatma Gandhi new series. These notes will be signed by newly appointed Governor Sanjay Malhotra. RBI has clarified that old notes will also be completely valid as before.
Old notes will be valid
The central bank said in the statement that the design of the new notes will be similar to the notes of the Mahatma Gandhi series released earlier. It has also been clarified that all 10 and 500 rupee notes issued earlier will remain valid. Earlier, RBI had also announced the issue of 100 and 200 rupee notes with Governor Malhotra’s signature.
MPC meeting from April 7, policy announced on 9 April
The first meeting of the new financial year of RBI’s Monetary Policy Committee (MPC) starts from 7 April. On April 9, Governor Sanjay Malhotra will announce a decision regarding policy rate.
Experts believe that the repo rate can be cut by 0.25 percent in this meeting. If this happens, this will be a second consecutive time when the repo rate will be cut.
Another possible cut in repo rate?
Currently the repo rate is 6.25 percent. If it cut 25 basis points, it would decrease to 6 percent. This can make it cheaper to take loans and the economy is likely to gain momentum.
Significantly, in February, Governor Sanjay Malhotra’s first MPC meeting was also cut by 0.25 percent.
Governor Sanjay Malhotra recently took command
Sanjay Malhotra held the post of Governor of RBI in December 2024. He replaced Shaktikanta Das, whose term had been completed. This will be a meeting of his second monetary policy committee as a governor.
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The post RBI will soon release new notes of 10 and 500 rupees, first appeared on News India Live with the signature of Governor Sanjay Malhotra | Breaking India News, The Indian Headline, India Express News, Fast India News.
