The Reserve Bank of India has issued a new batch of Rs 500 denomination notes, an official said in Mumbai on Tuesday.

"In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which are currently legal tender, a new batch of banknotes with inset letter "A" in both the number panels, bearing the signature of Urjit R. Patel, Governor, Reserve Bank of India; with the year of printing '2017' on the reverse, are being issued," an official statement said.

The design of these notes is similar in all respects to the Rs 500 banknotes in Mahatma Gandhi (New) Series, which were notified on November 8, 2016.

On November 8 last year, the PM while announcing the demonetisation move had called it a necessary step in the fight against corruption and black money.

The Reserve Bank of India had then accepted the proposal and added that new Rs 500 and Rs 2,000 notes will be introduced with a new design.

RBI had announced that the notes will be introduced from November 10 and will be smaller than the present notes. The Rs 500 notes will be called the Mahatma Gandhi series. The Rs 2,000 notes will have pictures of Mahatma Gandhi and Mangalyaan on it.

(With IANS inputs)