India to issue new 500-rupee note with E inset letter

According to a 17 September 2009 press release, the Reserve Bank of India (RBI) will soon issue a 500-rupee (US$10.40) note with E inset letter and signature of D. Subbarao, governor.

Except for the change in the inset letter, the design of these notes to be issued now is similar in all respects to the banknotes in Mahatma Gandhi Series - 2005, with additional/ new security features issued on 21 October 2005.

All banknotes in the denomination of Rs 500 in Mahatma Gandhi series issued by RBI from the year 2000 will continue to be legal tender.