RBI to issue Rs. 20 Denomination Banknotes with New Governor Sanjay Malhotra's Signature

The Reserve Bank of India (RBI) will “shortly” begin issuing fresh ₹20 banknotes in the Mahatma Gandhi (New) series that carry the signature of Governor Sanjay Malhotra. The move, announced through a press release on Saturday, is the first change to the country’s smallest-denomination paper currency since Malhotra took charge in December 2024. The central bank stressed that all earlier ₹20 notes already in circulation remain legal tender and will coexist with the new stock.

The RBI said the forthcoming notes will be identical in design, colour and security features to the ₹20 bills first introduced in 2019, ensuring a seamless transition for cash-handling machines such as CDMs and ATMs.

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Only the facsimile signature of the governor, which appears on the lower-centre of the obverse, is being updated. Banks have been advised to configure note-sorting equipment accordingly, while the public will see the new bills trickle into circulation through regular branch withdrawals and ATMs over the next few weeks.

Like the existing series, the new ₹20 note retains its compact 63 mm × 129 mm format, greenish-yellow base colour and the Ellora Caves motif on the reverse that celebrates India’s UNESCO-listed heritage. Key security elements—such as the see-through register with the numeral “20,” the Devanagari legend “२०,” micro-lettering, and the windowed, colour-shifting security thread—remain unchanged, preserving machine readability and counterfeit deterrence.

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The signature update follows standard RBI practice after a change of leadership. Sanjay Malhotra, a 1990-batch IAS officer and former Revenue Secretary, became the 26th governor on 11 December 2024, succeeding Shaktikanta Das. Malhotra has since chaired two Monetary Policy Committee meetings and overseen a steady-rate regime aimed at anchoring inflation expectations while supporting growth.

Replacing a governor’s autograph across all denominations is an incremental process that usually begins with the lowest value note and works upward as existing stocks are replenished. In previous transitions, higher-value notes bearing the predecessor’s signature continued to circulate for several years, highlighting India’s dual approach of cost efficiency and logistical ease. RBI officials note that printing plates for larger denominations are already being re-tooled at Bharatiya Reserve Bank Note Mudran (BRBNM) presses, though no formal timeline has been disclosed.

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For the public, the change will be largely symbolic, as both new and old ₹20 notes will hold equivalent value, and no exchange is necessary. Retailers and cash-dependent micro-enterprises are advised simply to familiarise staff with the updated signature.

The RBI said it will launch a multilingual awareness campaign on social media and community radio to minimise confusion and discourage rumours. As with all coins and banknotes issued since Independence, “so long as the physical currency is genuine, the promise to pay the bearer on demand stands untouched,” an official added.

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