New lot of Rs 500 denomination notes from RBI
Posted on: 13/Jun/2017 4:28:23 PM
As a move intending to ensure surplus cash supply, the Reserve Bank of India has come up with the issue of new Rs 500 currency notes. Following demonetization of Rs 1,000 and Rs 500 denomination notes aiming at ceasing black money usage in the country, the RBI had issued Rs 2,000 and Rs 500 currency notes.
As a continuation of the issue of Rs 500 notes of the new Mahatma Gandhi series, now is going to be the issue of new series of notes of the same denomination. This will contain the letter ‘A’ on either sides of the number panel. This will also have Dr. Urjit R. Patel Governor of Reserve Bank of India. The year of printing will be 2017 on the reverse, said RBI in its statement.
The design:
Coming on to the design, there not any significant change as compared to earlier Rs 500 notes in the Mahatma Gandhi series.
The central bank had hinted last week that almost 83 percent of the total demonetized currency notes is remonetized into the system again. There is no sort of currency shortage in the banking system, adds RBI.
