RBI to release New batch of Rs 500 Currency Notes

Reserve Bank of India has said that it will release new batch of Rs 500 currency notes whose design will be similar in all respects to the Rs 500 rupee banknotes of the Mahatma Gandhi (New) Series which were released post demonetisation.

Salient Highlights

The new batch of Rs 500 banknotes will have inset letter “A” in both the number panels.

It will bear the printing year as ‘2017’ on the reverse side.

The new notes will have the signature of RBI Governor Dr. Urjit R. Patel.

The old Rs 500 notes released in the wake of demonetisation would continue to remain as legal tender.

RBI has said that it has no plans to release new denomination currencies in the near future as it aims to promote cashless transactions in the country.

The banknotes will also have Swachh Bharat logo printed on the backside of the banknote. In addition, some of the notes would carry an additional character in between the prefix and the number of the banknote.

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Categories: Banking Current Affairs 2017

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