RBI made a big announcement regarding the Rs 50 note. A new 50 rupee note is about to hit the market soon. The Reserve Bank of India (RBI) announced on Wednesday that they will be issuing this new note featuring the signature of Governor Sanjay Malhotra.
Malhotra took over the role in December 2024, succeeding Shaktikanta Das. According to the RBI, the design of these notes will resemble the Rs 50 notes from the Mahatma Gandhi (New) series.
All existing Rs 50 notes will still be valid. It’s important to mention that the Mahatma Gandhi (New) series 50 rupee note measures 66 mm x 135 mm and has a fluorescent blue base color. The back showcases a depiction of Hampi with a chariot, highlighting the country’s rich cultural heritage.
As for the 2000 rupee notes, it’s been over a year and a half since they were banned, yet people are still holding onto a significant amount. The RBI recently shared that by January 31, 2025, 98.15 percent of these pink notes have made their way back into the banking system, leaving around Rs 6,577 crore still in circulation among the public.
As of December 31, RBI data shows that there were notes totaling Rs 6,691 crore in circulation. Just so you know, on May 19, 2023, the central bank decided to phase out the Rs 2000 notes as part of its clean note policy.