RBI to shortly issue Rs 500, Rs 100 notes of 2014 printing year

The Reserve Bank will shortly issue banknotes of Rs 500 and Rs 100 denominations in the Mahatma Gandhi series with 2014 as the printing year.

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

Besides that, Rs 100 denomination banknotes will also be issued in the same series.

Currencies of both the denominations will bear the signature of RBI Governor Raghuram G Rajan.

RBI said the design of these banknotes will be similar in all respects to Rs 500 and Rs 100 banknotes printed in Mahatma Gandhi series-2005 issued earlier.

Also, all the banknotes in the denomination of Rs 500 and Rs 100 issued by the RBI in the past would continue to be legal tender, it said.

RBI has been introducing banknotes in the Mahatma Gandhi Series since 1996. It has so far issued notes in the denominations of Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000 in this series.