How to check new Rs. 500 note when you are in India

New Delhi, Nov. 15, 2006

• The RBI released a new series of Rs 500 notes. The colour of new notes will be mild yellow, mauve and brown. This would help distinguish a Rs 500 note from a Rs 100 note.
  
• In the new note, the numeral 500 is printed in colour- changing ink on the front side. When the note is held flat, 500 looks green and on holding the note at an angle, 500 looks blue.
  
• The RBI has asked the public to exchange the old design green notes having Ashok Pillar in the watermark window, which is clearly visible when the note is held against light, for the new design yellow note at any office of RBI. These old designed notes can also be exchanged for notes for any other denomination at any public sector bank branch or the RBI office.
  
• The RBI has clarified that all the series of Rs 500 notes, 1987,1997 as well as new notes issued now were legal tender and the banks were bound to accept them.

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