RBI introduces new batch of banknotes of Rs 500 with inset letter A; old notes to remain valid

RBI has introduced new batch of banknotes of Rs 500 with inset letter A while old notes of E series will continue to stay valid.

New Delhi:  The Reserve Bank of India (RBI) on Tuesday introduced new batch of banknotes of Rs 500 with inset letter A while 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,” 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 dated November 8.

The earlier 500 denomination banknotes in Mahatma Gandhi (New) Series with inset letter ‘E’ in both the number panels, bearing the signature of Urjit Patel had year of printing '2016’ and Swachh Bharat Logo printed on the reverse of the Banknote.

Those 500 banknotes had the following principal features:

   - The size is 66mm x150mm

    -The colour is stone grey

    -Red Fort-an image of Indian heritage site with Indian flag on the reverse

The banknote also had features (intaglio printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, bleed lines, circle with Rs 500 in the right, and the identification mark) which enable the visually impaired person to identify the denomination.