Reserve Bank Of India / RBI Governor is going to do this work- Big update on 10 and 500 rupee notes

After the new RBI Governor Sanjay Malhotra took charge, important decisions are being taken continuously. Now RBI will soon issue new Rs 10 and Rs 500 notes of Mahatma Gandhi (new) series, which will have Malhotra's signature. Old notes will also remain valid.

Reserve Bank Of India: Positive changes are being seen in the Indian economy since the new RBI Governor Sanjay Malhotra took charge. After the decisions to reduce inflation and cut interest rates, now a big update has come regarding Rs 10 and Rs 500 notes.

Announcement of new notes

The Reserve Bank of India (RBI) has recently announced that new notes of Rs 10 and Rs 500 will be issued under the Mahatma Gandhi (New) Series. These new notes will bear the signature of Governor Sanjay Malhotra. However, the RBI has clarified that the previously circulated Rs 10 and Rs 500 notes will remain legal tender.

Earlier, the RBI had also announced the release of new Rs 100 and Rs 200 notes. This step is considered to be an important step towards maintaining monetary stability and making the banking system more smooth.

Possible cut in repo rate

The meeting of the Monetary Policy Committee (MPC) of RBI is starting from April 7, and on April 9, Governor Sanjay Malhotra will announce the policy rate. According to experts, a 0.25% cut in the repo rate is possible in this meeting. If this happens, it will be the second consecutive time that repo rates will be reduced. This will reduce the repo rate to 6%, which will reduce the cost of borrowing and accelerate economic growth.

In February also, RBI had cut by 0.25%, which reduced the interest rates of home loans, auto loans and other loans. This will provide relief to the general public as well as increase liquidity in the market and accelerate investment.

Effect on the general public

Improvement in banking sector - Availability of new notes will facilitate cash flow and strengthen the banking system.
Possibility of loans becoming cheaper - A possible cut in the repo rate can reduce the EMI of home loans, auto loans and personal loans.
Control over inflation - RBI's recent policy decisions have helped control inflation, which will provide relief to consumers.
Boosting investment and economic growth - Low interest rates will boost investment, which will benefit industry and trade sectors.