RBI issues new Rs 500 currency notes: All you need to know about it
RBI has issued a statement stating the release of new Rs 500 notes with inset of letter 'A'.
The Reserve Bank of India (RBI) on Tuesday, June 13, issued new 500 rupees currency with an inset of letter 'A'. RBI, however, made it very clear that the new 500 notes issued after demonetisation were still 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 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 design of these notes is similar in all respects to the Rs 500 banknotes in Mahatma Gandhi (New) Series which were released after Prime Minister Narendra Modi demonetised the old 1000 and 500 currency, in an effort to curtail black money, on November 8, 2016.
Difference between Rs 500 notes issued earlier and the new batch of banknotes:
- The new batch of Rs 500 notes will have inset letter 'A', unlike the earlier notes which had 'E'
- The year of printing in the new currency will be '2017'. The earlier notes that were issued post demonetisation had '2016' as the year of printing.
All the other features of the new 500 currency will be the same like "intaglio printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, bleed lines, circle with Rs. 500 in the right" and an identification mark.
The reverse side will have Swachh Bharat and also contain an image of Red Fort.
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