RBI to issue new ₹ 500 notes soon

Mumbai, Jun 13 (PTI) Reserve Bank will soon put into circulation a new batch of ₹ 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 today.

RBI said the release of new batch of ₹ 500 notes is in continuation of issuing ₹ 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 ₹ 500 banknotes in Mahatma Gandhi (new) series.

The new ₹ 500 notes, which were introduced post November 8, 2016 after disbanding old ₹ 500 and ₹ 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.