The Reserve Bank of India will shortly issue ` 500 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating "`" symbol on the obverse and the reverse, with inset letter 'E' in both the numbering panels, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote.
The design of these notes to be issued now is similar in all respects to the ` 500 Banknotes in Mahatma Gandhi Series- 2005 issued earlier, provided that the numerals in both the number panels will be in the ascending size from left to right while the first three alpha-numeric characters (prefix) will remain constant in size.
Such notes with the numerals in the ascending size in the numbering panels have already been put into circulation for ` 100 denomination.
All the Banknotes in the denomination of ` 500 issued by the Bank in the past will continue to be legal tender.
Press Release: 2015-2016/343