The Reserve Bank of India will shortly issue Rs. 500 denomination Banknotes incorporating  Rs. symbol on the obverse and reverse, with inset letter 'R' in both the numbering panels, in the Mahatma Gandhi Series-2005 bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2013' printed on the reverse of the Banknote.

The design of these notes to be issued now is similar in all respects to the Rs. 500 Banknotes in Mahatma Gandhi Series-2005 issued earlier.

All the Banknotes in the denomination of Rs. 500 issued by the Bank in the past will continue to be legal tender.

Ajit Prasad

Assistant General Manager

Banknote design change: new denomination notes add rupee symbol and inset letter R; existing notes remain legal tender. The Reserve Bank will issue new banknotes of the five-hundred denomination incorporating the rupee symbol on both faces and an inset letter 'R' in the numbering panels, bearing the Governor's signature and year-of-printing notation; all previously issued banknotes of the same denomination remain legal tender.