The Reserve Bank of India will shortly issue Rs.500 denomination banknotes with inset letter `C' in both numbering panels in Mahatma Gandhi Series bearing the signature of Dr. Y.V.Reddy, Governor. Except for the change in the inset letter, the design of these notes to be issued now is similar in all respect to those issued earlier in the Mahatma Gandhi Series. All notes in the denomination of Rs.500 issued by the Bank since September 1987 will continue to be legal tender.