RBI to launch new Rs 500 notes in Mahatma Gandhi series, notes introduced after demonetisation to stay valid
The Reserve Bank of India today said it will introduce new Rs 500 notes with inset letter “A” in its Mahatma Gandhi (New) series. The new notes will be similar to the notes introduced during Centre's demonetisation drive in November last year. Both the series will remain in circulation.
“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," RBI said in a statement.
The new series earlier released and currently in circulation has the inset letter "E".