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RBI introduces new Rs 500 notes with inset letter A, While old notes to remain valid

new Rs 500 notes

RBI issues new Rs 500 notes with inset letter A, old notes to remain valid

On Tuesday morning Reserve Bank of India has made an important notification regarding Rs.500 note. It has issued new Rs 500 denomination notes with inset letter A. However, old notes of E series will continue to stay valid.

An official of RBI in a statement said, “In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which is 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,”.

Also, Arun Ram Meghwal, minister of state for finance, said that the government was not planning to print Rs 5,000 and Rs 10,000 currency notes, Financial Express reported.

Additionally, the central bank said that the notes will bear Swachh Bharat logo on the back side 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 other dimensions of the note will remain same.

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