RBI to issue new Rs500 notes soon

Reserve Bank 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 Dr Urjit R Patel Governor, Reserve Bank of India; with the year of printing '2017 on the reverse, are being issued," RBI said in a release on Tuesday.

RBI 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.