rbi, new rs 500 note, indian currency
A police officer stands guard in front of the Reserve Bank of India (RBI) head office in Mumbai, India, August 9, 2016.Reuters file

The Reserve Bank of India (RBI) on Tuesday, June 13, said that it would be issuing a new series of Rs 500 note.

"In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which are currently legal tender, 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," the bank said in a statement.

"The design of these notes is similar in all respects to the ₹ 500 banknotes in Mahatma Gandhi (New) Series which were first notified through the press released dated November 8, 2016," the bank added.