A new series of Rs500 banknotes will be soon be circulated by the Reserve Bank of India (RBI). The series will be printed with the inset letter ‘A’ in both the number panels on the front side, RBI said in a press release. The design of this new batch will remain similar to the older notes. The central bank, from time to time, introduces new series of notes for legal tender.
"In continuation of issuing of Rs500 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," RBI said.
On 8 November 2016, the RBI demonetised old Rs500 and Rs1,000 notes and released new notes with improved security features. Opposition parties blamed demonetisation for India’s GDP growth dipping to a three-year low.