Mumbai, Jun 13 (PTI) Reserve Bank will soon put into circulation a new batch of ₹ 500 banknotes in the Mahatma Gandhi new series, printed in 2017.

"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 release today.

RBI said the release of new batch of ₹ 500 notes is in continuation of issuing ₹ 500 denomination banknotes in Mahatma Gandhi (new) series from time to time, which are currently legal tender.

With respect to design, these notes will be similar to the existing ₹ 500 banknotes in Mahatma Gandhi (new) series.

The new ₹ 500 notes, which were introduced post November 8, 2016 after disbanding old ₹ 500 and ₹ 1,000 notes, wear a complete new look in a stone grey colour, depicting image of the Red Fort as well as carrying a message to keep the surroundings clean.

Besides, the notes are smaller in dimension compared with earlier ones and have added security features.

Banknote issuance: new series notes released with updated design, identifying marks and enhanced security while retaining legal tender status. Reserve Bank will issue a new batch of five-hundred-rupee banknotes in the Mahatma Gandhi (new) series printed in 2017, bearing an inset letter 'A', the Governor's signature and the year of printing; these notes carry legal tender status, mirror the existing series' design and incorporate a stone-grey colour, Red Fort depiction, cleanliness message, smaller dimensions and enhanced security features.