The Reserve Bank of India will shortly issue ₹ 500 denomination banknotes in Mahatma Gandhi (New) Series with inset letter ‘L’ in both the number panels, bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of India, the year of printing '2016’ and Swachh Bharat Logo printed on the reverse of the Banknote.
The new ₹ 500 banknotes are different from the earlier specified bank note (SBN) series in colour, size, theme, location of security features and design elements; the principal features are –
The size is 66mm x150mm
The colour is stone grey
Red Fort-an image of Indian heritage site with Indian flag on the reverse
The banknote also has features (intaglio printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, bleed lines, circle with ₹ 500 in the right, and the identification mark) which enable the visually impaired person to identify the denomination.
The banknotes issued earlier vide Press Release No. 2016-2017/1146 dated November 08, 2016 will continue to be legal tender.
Press Release : 2016-2017/1196