RBI to issue new batch of ₹ 500 notes

New Delhi: Reserve Bank of India (RBI) is soon going to issue a new batch of ₹ 500 banknotes.

In a notification dated June 13, 2017, the central bank said:

“In continuation of issuing of ₹ 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which are currently legal tender, a new batch of banknotes with inset letter ‘A’ in both the number panels, bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of India; with the year of printing ‘2017’ on the reverse, are being issued.”

RBI further said the design of the new ₹ 500 notes is similar in all respects to those belonging to the Mahatma Gandhi (New) Series.

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In the existing series of ₹ 500 banknotes, first announced on November 8 when the government in a surprise move announced demonetisation of ₹ 500 and ₹ 1,000 notes in its fight against black money and corruption, the inset letter “E” can be seen in the two number panels at the upper-left and lower-right corners of the front side.

The ₹ 500 notes bear the year of printing and the Swachh Bharat logo printed and an image of Red Fort on the reverse side.

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