RBI introduces new batch of Rs.500 notes, old notes to stay valid

  • IANS

    SNS Web | New Delhi

    June 13, 2017 | 8:02 am
GDP

(PHOTO: Facebook)

The Reserve Bank of India (RBI) on Tuesday introduced new batch of Rs.500 notes with the inset letter A in both the number panels and said that the 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,” the 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 on 8 November, 2016," the statement added.

On 16 December 2016, the RBI had announced that it would issue Rs.500 notes in Mahatma Gandhi (new) series with the inset letter E in both the number panels.

The notes will also bear Swachh Bharat logo printed on the reverse of the banknote, it had said.

(With inputs from agencies)

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