Mumbai (Maharashtra) [India]: The Reserve Bank of India (RBI) has announced it will soon issue new ₹20 denomination banknotes in the Mahatma Gandhi (New) Series, featuring the signature of the newly appointed RBI Governor Sanjay Malhotra.
According to the 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 further clarified that
“all previously issued Rs 20 banknotes will continue to be legal tender.”
Sanjay Malhotra assumed office as RBI Governor on December 11, 2024, for a three-year term.
The central bank reiterated the definition and legality of Indian currency, stating:
“Legal Tender is a coin or a banknote that is legally tenderable for discharge of debt or obligation.”
It added:
“According to the central bank, every banknote issued by Reserve Bank of India, unless withdrawn from circulation, are legal tender at any place in India in payment or on account for the amount expressed therein, and shall be guaranteed by the Central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.”
Banknotes in India are printed at four currency presses:
- Two under the Government of India via Security Printing and Minting Corporation of India Ltd (SPMCIL): Nasik (West India) and Dewas (Central India).
- Two under the RBI via its subsidiary Bharatiya Reserve Bank Note Mudran Private Ltd (BRBNMPL): Mysuru (South India) and Salboni (East India).
Coins, meanwhile, are minted at four SPMCIL-operated mints located in Mumbai, Hyderabad, Kolkata, and NOIDA. Distribution of coins is handled exclusively through the Reserve Bank under Section 38 of the RBI Act.
To ensure smooth currency distribution, RBI has authorized selected scheduled banks to manage currency chests—secure vaults used to stock notes and coins for regional bank branches.
“As on February 28, 2025, there were 2,691 currency chests,”
the RBI reported.