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

"The RBI will shortly issue 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," the apex bank said.

Besides, 100 denomination banknotes will also be issued in the same series. Currencies of both the denominations will bear the signature of RBI Governor Raghuram Rajan. The RBI said the design of these banknotes will be similar in all respects to 500 and 100 banknotes printed in Mahatma Gandhi series-2005 issued earlier.

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

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

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