The Reserve Bank of India (RBI) today revealed that a new batch of Rs 500 notes will be launched soon. The Rs 500 notes looks similar to those which have been introduced last year however the new ones come with a new inset letter ‘A’ and with the signature of RBI Governor Urjit R Patel. They will also be having the year of printing as 2017. The design of the new notes will be similar to them which have been introduced on November 8th last year.

The current notes have an inset letter ‘E’ and they will continue to be valid. RBI revealed that 83% of the cash has been remonetised and there is no shortage for cash currently in the country. The exact data of the number of returned Rs 500 and Rs 1000 notes is yet to be revealed by RBI. The new Rs 500 notes will come into circulation soon informed Reserve Bank of India.