RBI to issue Rs 500 banknotes with rupee symbol

The Reserve Bank will soon issue Rs 500 banknotes with rupee symbol in the Mahatma Gandhi Series-2005.

"The RBI will shortly issue Rs 500 denomination banknotes incorporating rupee symbol on the obverse and reverse, with inset letter 'R' in both the numbering panels, in the Mahatma Gandhi Series-2005," RBI said in a notification.

The banknotes would be bearing the signature of RBI governor Raghuram G Rajan and the year of printing '2013' printed on the reverse of the banknote, it said.

The design of these notes to be issued now is similar in all respects to the Rs 500 banknotes in Mahatma Gandhi Series-2005 issued earlier, it added.

All the banknotes in the denomination of Rs 500 issued by the central bank in the past will continue to be a legal tender, RBI further said.