₹10 & ₹500 New Notes Incoming! The Reserve Bank of India (RBI) has made a new announcement, according to which now 10 rupees and 500 rupees notes will soon be issued in the latest series of Mahatma Gandhi. These new notes will bear the signature of the new governor, Sanjay Malhotra, who took over as the RBI governor in December 2024.
Old Notes Will Also Continue To Be Valid
The RBI has clarified that even after the arrival of new notes, the old 10 and 500 rupees notes will remain valid. If you have the current notes, there is no need to panic. You can use them as before.
What Will Be The Design Of The New Notes?
The design of the new series 10 and 500 rupee notes will remain the same. The only difference is that they will bear Governor Sanjay Malhotra’s signature. The RBI had also announced the release of 100 and 200 rupee notes with Malhotra’s signature.
Repo Rate Cut Expected Again
The meeting of the Monetary Policy Committee (MPC) of RBI will begin on April 7, and on April 9, Governor Sanjay Malhotra will announce the policy decision. Experts believe that this time, too, the repo rate may be cut by 0.25 percent. If this happens, it will be the second consecutive time the interest rate has been reduced.
The repo rate is currently 6.25%, but after a 25-basis-point cut, it can reach 6%. This can make loans cheaper for people and promote market investment.
Why Is This Meeting Special?
This meeting will be the first MPC meeting of the current financial year 2025-26, which is considered very important. Earlier in February 2025, Governor Malhotra had also cut the interest rate in his first decision.
It is not so if you think the old 10 or 500-rupee notes will be discontinued. They will continue to run as before. New notes will be issued only in a new series and with the new governor’s signature. Also, there is full hope of getting relief in interest rates in the next meeting of the RBI.
