The Reserved Bank of India will introduce a new batch of Rs 500 notes, and I am not just messing around, but don’t fret because the existing notes will remain valid. And the new notes don’t seem very different anyway.
It is pretty hilarious and amusing to watch how people react when someone says ‘new currency notes’ will be introduced, after the November 8, 2017 diktat, which the country will probably never forget. I mean, we barely even knew that a term like – demonetization existed and now most of us jump away, literally. So, about the upcoming new Rs 500 notes – yes, RBI is surely coming up with new batch of currency and the design is reportedly said to be very similar to the Rs 500 banknotes in Mahatma Gandhi (New) Series.
The new notes will come with inset letter “A” in both the number panels, bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of India. And the year of printing i.e. 2017 on the reverse will be issued. So that’s probably the only difference – the inset letter A; existing currency notes in circulation has the inset letter ‘E’. And let’s be very clear, let’s go all caps – EXISTING NOTES WILL BE VALID, so don’t stop accepting the notes with ‘E’s on them.
And when will these notes come into circulation – no idea, but it is reported that notes will soon be introduced to re-monetize the currency and resolve cash shortage in the system. Also, the new notes will come in stacks of 100 notes but not in serial numbers. And again, don’t panic, it is just a new fresh batch of cookies. *currency notes.