RBI introduces new Rs 500 notes; old notes valid

By PTI Published on Jun 13, 2017 03:49 PM IST

New Delhi: The Reserve Bank of India (RBI) today introduced new batch of notes of Rs 500 value with inset letter 'A' while stating that old notes of 'E' series will remain valid.

"In continuation of issuing of Rs 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 RBI Governor Urjit R Patel; with the year of printing 2017 on the reverse, are being issued," RBI said in a statement.

The design of these notes is similar in all respects to the Rs 500 banknotes in Mahatma Gandhi (new) series which were first notified dated 8 November. The earlier Rs 500 denomination banknotes in Mahatma Gandhi (new) series with inset letter 'E' in both the number panels, bearing the signature of Urjit Patel had year of printing 2016 and Swachh Bharat logo printed on the reverse of the note.

Those 500 banknotes had the following principal features: The size is 66mm X 150mm, the colour is stone grey and Red Fort - an image of Indian heritage site - with Indian flag on the reverse.

The banknote also had features (intaglio printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, bleed lines, circle with RsĀ 500 on the right, and the identification mark) which enable the visually impaired person to identify the denomination.