RBI to issue new Rs 1,000 banknotes within MG series-2005

The Reserve Bank of India (RBI) will soon issue Rs 1,000 denomination banknotes with inset letter R in the Mahatma Gandhi Series-2005.

"The Reserve Bank will shortly issue Rs 1,000 denomination Banknotes incorporating rupee symbol, with 'R' inset letter, in the Mahatma Gandhi Series-2005," the RBI said in a notification.

The year of printing '2014' will be printed on the reverse of the banknote.

The design of these notes to be issued now is similar in all respects to the Rs 1,000 Banknotes in Mahatma Gandhi Series-2005, issued earlier, RBI said.

"All the banknotes in the denomination of Rs 1,000 issued by the Bank in the past will continue to be legal tender."

MG series 2005 banknotes are issued in the denomination of Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000 and contain some additional or new security features as compared to the previous MG series notes.

In addition to extra security features, MG series-2005 banknotes have the year of printing on the reverse of the banknotes which is not present in the pre-2005 series.