The Reserve Bank of India will shortly be issuing Rs 500/- notes (revised colour scheme ) in Mahatma Gandhi Series bearing the signature of Dr. Bimal Jalan, Governor and without inset letter in numbering panels. Except for this change the design and colour scheme of these notes will be similar in all respects to the 500 rupee notes issued earlier in the revised colour scheme in Mahatma Gandhi Series. All Rs.500/- denomination notes issued by the Bank in the past will continue to be legal tender.