India government has brought new series of Rs 500 denomination notes. Reserve Bank of India issued Rs 500 denomination notes with inset letter A. However, the old notes introduced post denomination in 2016 would continue to remain the 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 Urjit R Patel, Governor, Reserve Bank of India; with the year of printing ‘2017’ on the reverse, are being issued,” an official statement from the RBI was issued on Tuesday.
The central bank said that the notes will bear Swachh Bharat logo on the backside of the banknote and that some of the notes would carry an additional character in the space between the prefix and the number of the banknote. The officials also clarified that the government has no plans to print Rs 5,000 and Rs 10,000 currency notes.
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