RBI Introduces New Batch Of Rs 500 Notes. Here’s What Is Different In Them

After demonetisation, new Rs 500 and Rs. 2000 notes were issued by RBI. Now it’s not been a year since the launch of new Rs 500 notes, that the RBI has decided to bring new set of Rs 500 notes.

Currently, the notes which we use have E-letter in the two number panel. However, you don’t need to worry about the existing notes that you have. They will continue to be valid.

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“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 Dr. Urjit R. Patel Governor, Reserve Bank of India; with the year of printing ‘2017’ on the reverse, are being issued,” RBI said in a statement.

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New notes to have inset letter “A”

The design of new notes is quite similar to the existing ones. There are just few changes. The existing notes which were launched after demonetization have Inset letter E . RBI has now changed E  inset letter to A.

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The note bears the Swach Bharat logo, the year of printing and Red fort on the reverse side. Last week the apex bank said that there is no shortage of currency. And further claimed that 83 percent of the currency have been remonetised.

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Let us remind you that last year Prime Minister Narendra Modi outlawed old Rs 500 and Rs 1000 notes. This surprising action was taken in order to fight out Black money and corruption. In a country like India where Population is not an easy thing to deal with, this was a risky decision.

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However, it worked in the favor of Prime Minister Narendra Modi. Many economists from various parts of the world appreciated his action. And to an extent, it actually helped Indian Economy.

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