- Reserve Bank of India Issues New Batch of Rs 500 Notes
The Reserve Bank of India on Tuesday introduced a new batch of banknotes of Rs 500. The new banknotes have an inset letter “A” and the design of the new notes is similar to the Rs 500 notes in the Mahatma Gandhi (New) Series.Old notes the ones introduced during Prime Minister Modi’s demonetisation move.
This news comes after RBI Deputy Governor NS Vishwanathan had in March said that introduction of new denomination currencies is not in the pipeline. Vishwanathan had further said that the institution wants to encourage people to go for cashless transactions.