New design 500 rupee

The Reserve Bank of India has introduced new Rs 500 notes with the following distinguishing features:

*The colours are mild yellow, mauve and brown. This would help distinguish a Rs 500 note from a Rs 100 note.

*The numeral, 500, on the front side is printed in colour changing ink.

*When the note is held flat, 500 appears green. When the note is held at an angle, 500 appears blue.

At the same time, the RBI has indicated that all the 500 rupee notes issued by the RBI are legal tender: 1987 series of green colour notes with Ashoka Pillar in the watermark window; 1997 series of notes with the portrait of Mahatma Gandhi in the watermark window. The RBI has indicated the public should exchange the old green note for the new note at any RBI office. The old note can also be exchanged for notes of any other denomination at any public sector bank branch/RBI office.