Biz Updates: China retaliates on tariffs, US stock market outcry; RBI to issue new notes of ₹10 and ₹500

New Delhi| In a release issued by the Reserve Bank of India (RBI) on April 4, 2025, it was reported that, the issuance of new banknotes of Rs 10 and Rs 500 denomination has been announced. These new notes will be issued under the Mahatma Gandhi (New) Series and will be signed by current RBI Governor Sanjay Malhotra.

Both notes will be updated only
RBI Chief General Manager Neet Pancholi said that, the new Rs 10 and Rs 500 notes will be issued in the Mahatma Gandhi (New) Series. The design of these notes will be similar to the current Mahatma Gandhi (New) series notes.

Old notes of Rs 10 and Rs 500 will remain valid
RBI Chief General Manager said that, all Rs 10 and Rs 500 notes already in circulation will remain valid and will not be taken out of circulation. This is only a regular updating process and old notes will remain completely valid.

Big fall in the American stock market after China’s retaliatory action
The US stock market witnessed a huge fall on Friday when China retaliated against the tariffs (import duties) imposed by President Donald Trump. Let us tell you that, Dow Jones fell by more than 1,600 points, a total decline of four percent. Whereas the S&P 500 fell by 4.7 per cent. While Nasdaq, which is the index of technology companies) fell 5.3 percent.

Free trade agreement with EU will be finalized soon-MEA
The Ministry of External Affairs (MEA) on Friday said India is hopeful that the Free Trade Agreement (FTA) with the European Union will be finalized soon. MEA Secretary Paschim Tanmay Lal said that during the recent visit of the commissioners led by European Commission (EU) President Ursula von der Leyen, he and Prime Minister Narendra Modi had directed their teams to finalize the FTA within this year. Had decided. Lal said, talks are going on. Both the teams are taking the process forward in a very strong manner. We sincerely hope that the FTA will be finalized soon. Let us tell you that Ursula von der Leyen’s visit took place in early February this year. At that time both sides had agreed to finalize the much-awaited free trade agreement by this year and promote technology and defense cooperation.