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RBI to issue new currency notes

RESERVE BANK of India (RBI) will shortly issue new banknotes of Rs 500 and Rs 50 denominations. According to the RBI, the new Rs 500 banknotes, with inset letter ?R? in both numbering panels in Mahatma Gandhi Series ? 2005, will bear the signature of RBI Governor Dr YV Reddy.

india Updated: Mar 10, 2006 16:40 IST

RESERVE BANK of India (RBI) will shortly issue new banknotes of Rs 500 and Rs 50 denominations. According to the RBI, the new Rs 500 banknotes, with inset letter ‘R’ in both numbering panels in Mahatma Gandhi Series – 2005, will bear the signature of RBI Governor Dr YV Reddy.

Except for the change in inset letter, the design of these notes to be issued is similar in all respects to the bank notes in Mahatma Gandhi series issued in October 2005.

The Rs 50 denomination bank notes to be issued would have inset letter ‘E’ in both numbering panels in Mahatma Gandhi Series – 2005 and signature of Dr YV Reddy. All banknotes in the denomination of Rs 500 and Rs 50 issued earlier would continue to be legal tender.

First Published: Mar 10, 2006 16:40 IST