Numismatics Collections

The Reserve Bank of India is once again considering the introduction of polymer banknotes, reviving a proposal that was first explored more than a decade ago, according to a report by Business Standard. The move comes at a time when the cost of printing currency notes is rising sharply and billions of soiled notes continue to be withdrawn from circulation every year. The RBI is expected to announce a pilot project in the near future, with discussions reportedly taking place during the central bank’s last two board meetings held in Patna and Mumbai. Lower denomination notes such as the ₹10 and ₹20 are likely to be selected for the initial trial because they deteriorate quickly due to frequent circulation. Polymer banknotes are made from a synthetic plastic substrate instead of the traditional cotton-based paper used in Indian currency. These notes are generally more durable, resistant to moisture and dirt, and can last significantly longer in circulation. Polymer notes also allow the i...

The Reserve Bank of India (RBI) will soon issue ₹100 and ₹200 banknotes bearing the signature of its newly appointed Governor, Shri Sanjay Malhotra, as announced in an RBI press release on March 11, 2025. According to the press release, "The Reserve Bank of India will shortly issue ₹100 and ₹200 denomination banknotes in the Mahatma Gandhi (New) Series bearing the signature of Shri Sanjay Malhotra, Governor. The design of these notes remains identical in all respects to the existing ₹100 and ₹200 banknotes in the Mahatma Gandhi (New) Series. All previously issued ₹100 and ₹200 banknotes will continue to be legal tender." Earlier, on February 12, 2025, the RBI announced the issuance of ₹50 banknotes featuring the new Governor’s signature. With the addition of ₹100 and ₹200 banknotes, the numismatic community now eagerly awaits the release of ₹10, ₹20, and ₹500 banknotes with the updated signature. The Mahatma Gandhi (New) Series ₹100 banknote measures 66 mm × 142 mm and featur...

The Reserve Bank of India (RBI) is set to release banknotes bearing the signature of its newly appointed Governor, Shri Sanjay Malhotra. As per the latest announcement, the first denomination to feature his signature will be on ₹50 banknote, with the official confirmation made through an RBI press release on February 12, 2025. According to the press release, "The Reserve Bank of India will shortly issue ₹50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of Shri Sanjay Malhotra, Governor. The design of these notes remains identical in all aspects to the existing ₹50 banknotes in the Mahatma Gandhi (New) Series. All previously issued ₹50 banknotes will continue to be legal tender." Shri Sanjay Malhotra, a 56-year-old civil servant, took charge as the RBI Governor on December 11, 2024, for a three-year term, succeeding Shri Shaktikanta Das, who served for six years. Prior to his appointment at RBI, Shri Malhotra held the position of India’s Reve...

Shri Sanjay Malhotra assumed office as the 26th Governor of the Reserve Bank of India (RBI) on December 11, 2024, for a three-year term, succeeding Shri Shaktikanta Das. Under Section 22 of the Reserve Bank of India Act, 1934, the RBI holds the exclusive authority to issue banknotes in India. As stipulated in Section 6 of the Reserve Bank of India (Note Issue) Regulations, 1935, these banknotes bear the signature of the Governor. A significant ceremonial duty in this regard is the acquisition of the Governor's specimen signature for its integration into the printing process of new banknotes. On December 12, 2024, a formal ceremony took place to obtain Shri Malhotra’s specimen signature. The event was attended by Shri T. Rabi Sankar, Deputy Governor; Shri Vivek Deep, Executive Director; the Chief General Manager-In-Charge of the Department of Currency Management, RBI; and the Managing Director of Bharatiya Reserve Bank Note Mudran Private Limited, a wholly owned subsidiary of the R...

The central government appointed Shri Sanjay Malhotra as the new Governor of the Reserve Bank of India (RBI) for a three-year term. Shri Malhotra, currently serving as the Secretary in the Department of Revenue, will succeed Shri Shaktikanta Das in the position, effective December 11, 2024. A notification from the Department of Personnel and Training, issued on December 9, 2024, confirmed his appointment, highlighting his distinguished career as an IAS officer from the 1990 batch (Rajasthan cadre). Shri Malhotra holds an electrical engineering degree from IIT Kanpur and a master's in public policy from Princeton University. Over his career, he has held pivotal roles, including Chairman and Managing Director of REC Limited (a Maharatna company) and Secretary in the Department of Financial Services. Since December 2022, he has served as Revenue Secretary in the Ministry of Finance, succeeding Tarun Bajaj. From a numismatic perspective, the first banknotes featuring Shri Sanjay Malho...

The Reserve Bank of India (RBI) and the Security Printing and Minting Corporation of India (SPMCIL), under the Finance Ministry, are considering the introduction of watermarks featuring Rabindranath Tagore and APJ Abdul Kalam alongside the current representation of Mahatma Gandhi on all denominations of banknotes. Earlier, the banknotes featured watermarks of the Ashoka Emblem, which were later replaced with Mahatma Gandhi's image. However, for the first time, the RBI is contemplating the inclusion of images of notable personalities other than Mahatma Gandhi on the banknotes. RBI and SPMCIL have reportedly forwarded two distinct sets of samples featuring watermarks of Gandhi, Tagore, and Kalam to IIT-Delhi Emeritus Professor Dilip T Shahani. Professor Shahani has been tasked with choosing between the two sets and presenting them for final consideration by the government, as reported by The New Indian Express . In 2021, the RBI instructed Bharatiya Reserve Bank Note Mudran Pvt Ltd i...

The banknotes are more than currency; they symbolize a nation’s identity, heritage, culture, and pride while reflecting its history and values. The design of currency often reflects the values and achievements a country wishes to showcase to its citizens and to the world. In India, the Reserve Bank of India (RBI) has frequently incorporated historical monuments, technological achievements, and cultural icons into banknote designs to create a visual narrative of the nation’s journey. In the latest currency series known as the Mahatma Gandhi New Series, a significant emphasis has been placed on depicting important historical monuments on the reverse side of banknotes. This approach highlights India’s architectural legacy and the diverse cultural traditions that have shaped the country over centuries. The practice of representing national heritage on Indian currency dates back to the early years after independence. One of the earliest symbolic representations was the Ashoka Pillar, which ...

The Government of India is now preparing to release a fresh series of One Rupee denomination currency notes in 2020 with several noticeable design changes, although the one rupee notes were reintroduced in 2015 and printed in 2015, 2016, 2017, 2018 and 2019. The One Rupee note is unique because, unlike all other denominations issued by the Reserve Bank of India, it is printed and issued directly by the Ministry of Finance. This makes it the only currency note in India that does not carry the signature of the RBI Governor but instead bears the signature of the Finance Secretory. The obverse side of the new One Rupee note will feature the words “भारत सरकार” above “Government of India,” along with the bilingual signature of Shri Atanu Chakraborty, Secretary, Ministry of Finance. It will also include a replica of the One Rupee coin displaying the ‘₹’ symbol and the year 2020, along with the national motto ‘सत्यमेव जयते’. The numbering panel will carry a capital inset letter ‘L’, and the nu...

The Reserve Bank of India (RBI) has introduced a new ₹10 note in a distinctive chocolate brown color as part of the Mahatma Gandhi (New) Series. While the note retains the same height as the existing ten-rupee note, measuring 63mm, its width has been slightly reduced to 123mm from the previous 137mm, making it more compact and easier to handle. The reverse side of the note has been redesigned to feature a motif of the Konark Sun Temple, one of India’s architectural marvels and a UNESCO World Heritage Site. Alongside this, the note displays the Swachh Bharat logo, reinforcing the government’s nationwide cleanliness and hygiene campaign. This replaces the earlier design that showcased wildlife motifs including a rhinoceros, elephant, and tiger. The obverse side continues to feature a portrait of Mahatma Gandhi, along with the Denominational Numeral, the RBI seal, and other standard security features such as the latent image, micro-lettering, fluorescent ink, and see-through register to e...

The Reserve Bank of India has recently introduced a new denomination, the ₹200 banknote, aimed at improving the efficiency of currency transactions and enhancing the availability of mid-value denominations. Similar to the distribution process of the ₹20 and ₹50 notes, the ₹200 note will be supplied to various bank branches across the country in a phased manner, ensuring smooth circulation. On the obverse (front) side of the note, a portrait of Mahatma Gandhi is prominently featured at the center, as part of the Mahatma Gandhi (New) Series. The denominational numeral “200” is printed with the rupee symbol (₹) in color-shifting ink that changes from green to blue when viewed from different angles, located at the bottom right. Security features such as the see-through register with the numeral "200," the latent image, micro-lettering, and the security thread with inscriptions ensure authenticity and protection against counterfeiting. For the benefit of the visually impaired, the...