On Tuesday, The Reserve Bank of India announced it will be releasing a new set of Rs. 500 notes.
The RBI statement read, “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 new notes are similar to the 500 notes released last year in November after demonetization of the 500 and 1000 notes.
The Mahatma Gandhi 500 series notes released in November and now have the letter ‘E’ on them which will continue to be valid.
RBI had confirmed last week that there is no more shortage of money in the system after nearly 83% of the currency has been remonetized.
The Central Bank has also informed the new notes will have the Swachh Bharat logo on the back of the note. A few of the notes will have an extra character between the prefix and the number of the banknote.
