RBI to issue Rs 500 note in new series with inset letter R

The Reserve Bank of India on Monday said it is issuing a new batch of Rs 500 notes in Mahatma Gandhi (New) series with the inset letter R in both the number panels.

“In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series which are currently legal tender, a new batch of banknotes with inset letter ‘R’ in both the number panels, bearing the signature of Dr Urjit R Patel Governor, Reserve Bank of India, with the year of printing ‘2016 are being issued,” RBI said in a notification.

The central bank in two separate notifications further said it will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, with inset letter ‘R’ and ‘L’ in both the number panels.