The Reserve Bank of India (RBI) will soon issue a ₹50 banknote with the signature of its new governor, Sanjay Malhotra.
He is set to take over as RBI Governor in December 2024, replacing Shaktikanta Das, who completed his extended term.
Design of the New ₹50 Note
The new ₹50 notes will maintain the same design as the Mahatma Gandhi (New) Series.
The only change will be the new governor’s signature. There will be no other alterations to the appearance of the note.
Old ₹50 Notes Will Still Be Valid
There’s no need to worry about the old ₹50 notes. The RBI has confirmed that all previously issued ₹50 banknotes will remain legal tender. You can continue using them without any issues.
Who is Sanjay Malhotra?
Sanjay Malhotra is a senior bureaucrat from the 1990 batch of the Indian Administrative Service (IAS), Rajasthan cadre.
He holds a Bachelor’s degree in Computer Science from IIT Kanpur and a Master’s degree in Public Policy from Princeton University.
With over 33 years of experience, Malhotra has worked in various sectors such as Power, Finance, Taxation, Information Technology, and Mining.
Before being appointed RBI Governor, he served as the Secretary (Revenue) in the Ministry of Finance and as the Secretary in the Department of Financial Services.
Why Was Sanjay Malhotra Appointed as RBI Governor?
Malhotra was chosen for the RBI Governor role because of his deep expertise in financial services, taxation, and policymaking.
His extensive experience in handling financial matters at both central and state levels made him a strong candidate.
His leadership is expected to enhance RBI’s financial policies and governance.
