RBI to issue new Rs 500 notes soon

With respect to design, these notes will be similar to the existing Rs 500 banknotes in Mahatma Gandhi (new) series.

By: ENS Economic Bureau | Mumbai | Published:June 14, 2017 2:03 am
RBI, reserve bank of india, new 500 rs notes, demonetisation, currency ban, 500 ban, indian express, business news, economy It said the release of new batch of Rs 500 notes is in continuation of issuing Rs 500 denomination banknotes in Mahatma Gandhi (new) series from time to time, which are currently legal tender. Express photo by Partha Paul.

Seven months after the introduction of new Rs 500 notes, the Reserve Bank of India on Tuesday said it will soon put into circulation a new batch of Rs 500 banknotes in the Mahatma Gandhi new series, printed in 2017.

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

With respect to design, these notes will be similar to the existing Rs 500 banknotes in Mahatma Gandhi (new) series. The new Rs 500 notes, which were introduced post November 8, 2016 after disbanding old Rs 500 and Rs 1,000 notes, wear a complete new look in a stone grey colour, depicting image of the Red Fort as well as carrying a message to keep the surroundings clean. Besides, the notes are smaller in dimension compared with earlier ones and have added security features.

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