The Reserve Bank of India will issue with effect from 18th November 2000 bank notes of Rs.500 denomination in the Mahatma Gandhi series in a revised colour scheme bearing Mahatma Gandhi portrait in the water mark. These notes will bear the signature of Governor, Dr. Bimal Jalan. The size of the note in the revised colour scheme has been retained at 167 x 73 mm.
The note is printed in a combination of offset and intaglio process. The overall colour scheme is predominantly mild yellow, mauve and brown. The Mahatma's portrait, numeral 500, RBI seal, RBI legend, guarantee and promise clauses and Governor's signature are printed by intaglio process(Raised Printing). One of the important features introduced on these notes is that the numeral `500' above the legend is printed in Optically Variable Ink viz., a colour shift feature. The numeral `500' which appears in green colour when the note is held flat, would change to blue when the note is held at an angle.
The note has the usual security features viz., the water mark window of Mahatma Gandhi portrait with light and shade effect and a readable window security thread alternately visible on the obverse but totally embedded on the reverse. The thread carries the inscription and `RBI'. The security thread appears to the left of the Mahatma's portrait. A see-through feature in the form of a floral design has also been incorporated in the note wherein the design of the window around the water mark on the obverse fits into the design on the reverse around the water mark. The latent image `500' appears in the green vertical band on the right side if the note is held flat at eye level. The latent image is printed by intaglio process. The micro letters containing `RBI' and `500' appear
alternately behind the Mahatma's portrait. A small raised brown circular mark is printed in intaglio on the left hand side of the watermark window above the Ashoka Pillar inset to facilitate the visually impaired in identifying the denomination. The numbers at the top right and at the left lower portion of the note are printed in red colour. These notes will be issued with inset letter `A' or inset letter `B' in the numbering panel.
The central theme depicts Mahatma Gandhi leading a group of persons. This is in brown colour with floral pattern appearing above and filigree patterns on the top and adjacent to the language panel. A vertical panel containing the denomination of the note in 15 languages appears on the left. All these features are printed in intaglio.
This Rs.500 in the revised colour scheme will be initially issued in exchange for the Rs.500 denomination notes issued in 1987 with the Ashoka Pillar emblem in the water mark window in view of the difficulties reportedly being faced by members of public in exchanging these notes.
All Rs.500 denomination notes issued by RBI earlier will continue to be legal tender.
Press Release : 2000-2001/735