RBI to issue Rs 10 and Rs 500 notes bearing signature of Governor Sanjay Malhotra

The Reserve Bank of India (RBI) will be issuing Rs 10 and Rs 500 denomination banknotes in Mahatma Gandhi (New) Series, bearing the signature of the new Governor Sanjay Malhotra. As per an official statement issued by the RBI on Friday, “The design of these notes is similar in all respects to Rs 10 and Rs 500 banknotes in Mahatma Gandhi (New) Series.”

However, all banknotes in the denomination of Rs 10 and Rs 500 issued by the Reserve Bank in the past will continue to be legal tender. The size of the new Rs 500 note will be 66mm x 150mm.

This comes after RBI’s recent announcement that it is going to issue banknotes of Rs 100 and Rs 200 denominations bearing the signature of Governor Malhotra.

Who is RBI’s new Governor Sanjay Malhotra?

Sanjay Malhotra took over as the RBI Governor in December 2024, replacing former Governor Shaktikanta Das, whose term concluded on December 10, last year. A 1990-batch IAS officer from the Rajasthan cadre, Malhotra took charge as the 26th Governor of the Reserve Bank of India.

The 56-year-old IAS officer before assuming the role of RBI Governor, served as the Revenue Secretary in the Ministry of Finance. Malhotra played a key role in the implementation of the new income tax regime.

Born in 1968, Sanjay Malhotra grew up in Bikaner, Rajasthan, where he completed his schooling at Kendriya Vidyalaya. He graduated with a Bachelor’s degree in Computer Science from IIT Kanpur and went on to earn his Master’s degree in Public Policy from Princeton University, USA.

He has more than three decades of experience in public policy with expertise in areas like power, finance and taxation.