RBI To Issue New Rs. 500 Notes With Inset Letter ‘A’; old notes to remain valid

Reserve Bank of India or RBI is issuing a new batch of Rs. 500 banknotes with the inset letter ‘A’, the central bank said today. In a notification, RBI said: “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 Dr Urjit R. Patel Governor, Reserve Bank of India; with the year of printing ‘2017’ on the reverse, are being issued.”
The central bank, in a statement, said that this was in continuation of the issue of Rs 500 denomination banknotes in Mahatma Gandhi (new) series, which were notified on November 8, 2016. From time to time, the bank introduces new series of legal tender.

“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 Urjit R Patel, Governor, Reserve Bank of India; with the year of printing ‘2017’ on the reverse, are being issued,” an official statement said.

Reserve Bank of India said the design of the new Rs. 500 notes is similar in all respects to those belonging to the current Mahatma Gandhi (New) Series.

In the existing series of Rs. 500 banknotes, first notified on November 8 when the government in a surprise move announced demonetisation of Rs. 500 and Rs. 1,000 notes, the inset letter “E” can be seen in the two number panels at the upper-left and lower-right corners of the front side.