RBI To Introduce New Rs. 500 Notes, Old Currency To Remain Valid

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As per a leading business magazine report a new Rs. 500 currency note is on the horizon. The new currency notes of Rs. 500 shall bear an inset letter A in accordance with the report. The new currency in denomination of Rs. 500 shall be similar to the existing currency in all form and design. Furthermore, the high-value currency of Rs. 500 introduced post demonetization shall continue to remaina legal tender.

RBI To Introduce New Rs. 500 Notes, Old Currency To Remain Valid

The report comes after the Deputy Governor of RBI, hinted at no more new denomination currency on the back of high liquidity as well as promotion of digital transactions and cashless economy.

The currency notes of high denomination which were earlier mulled upon are now not being printed.

As per the PTI report, RBI said packets with these new notes would include100 pieces but not in serial order. In December last year, the RBI had made a proposal to introduce the Rs. 500 bank notes with the inset 'E" letter in both of the number panels in Mahatma Gandhi new series. On the reverse side, there will be logo of Swachh Bharat.

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Read more about: rbi, bank notes, currency
Story first published: Tuesday, June 13, 2017, 14:24 [IST]
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