In addition to the signature of the new governor, the new notes will retain the current design and functionality of Rs 20. The RBI also clarified that all previously issued Rs 20 notes will continue to be fiat currency, according to the statement.
Sanjay Malhotra was appointed governor of RBI, effective December 11, 2024 and will last for three years.
Legal currency is a coin or banknote that can be legally tendered to fulfill debts or obligations.
According to the Central Bank, any report from India is a payment made anywhere in India or a fiat currency according to the amount expressed therein and shall be guaranteed by the central government, subject to compliance with Article 26, Section 26 of the RBI, paragraph 26, 1934.
Bank notes are printed on four currency publishers, two of which are owned by the Government of India through its company, Security India and Mint Company Limited (SPMCIL) (SPMCIL), while both countries are owned by the Reserve Bank, through its wholly owned subsidiary Bharatiya Reserve Bank Bank Note Mudran Private Ltd. SPMCIL’s currency publisher in West India (Western) and Dewas (Central India). Brbnmpl’s two Indian Indian (South India) and Salboni (Eastern India) presses are cast in four mints owned by SPMCIL. Peppermint is located in Mumbai, Hyderabad, Kolkata and Noida. The coin is only issued through the Reserve Bank under Section 38 of the RBI Act. To facilitate the distribution of banknotes and the Rsg. coins, the Reserve Bank has authorized a select bank to build currency boxes. These are warehouses representing the Reserve Bank to store bank notes and rupee coins, allocated to bank branches in their areas of operation. As of February 28, 2025, there were 2,691 currency boxes.
