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The Indian 500-rupee banknote (₹500) is a denomination of the Indian rupee. In 1987, the ₹500 note was introduced, followed by the ₹1,000 note in 2000 while ₹1 and ₹2 notes were discontinued in 1995. The current ₹500 banknote, in circulation since 10 November 2016, is a part of the Mahatma Gandhi New Series.
The first demonetisation of India was carried out in the year 1946 when, under the then Governor General of India, Field Marshal Archibald Wavell, 1st Earl Wavell, the Reserve Bank of India demonetised notes of ₹500, ₹1000, and ₹10,000 in order to check black market operations and tax evasions. This was done via 2 ordinances.
"Two key reasons for the proposal cited in the government letter were: (1) between 2011 and 2016, the supply of 500- and 1,000-rupee bills had grown by 76 and 108 percent, respectively, while India's economy had only grown by 30 percent during this period; and (2) cash typically facilitated "black money."
Banknotes of denominations of ₹5, ₹10, ₹20, ₹50, ₹100, ₹500 and ₹1000 of the Mahatma Gandhi Series. The Gandhi Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of Indian rupee. The series is so called because the obverse of the banknotes prominently display the portrait of Mahatma Gandhi.
Lion Capital of Ashoka. The Lion Capital Series were a series of currency notes issued after India declared its independence from Great Britain and used until the Reserve Bank of India (RBI) introduced the Mahatma Gandhi Series in 1996 with banknotes in denominations of 10 and 500 rupees, and were designed with the image of the Lion Capital of Ashoka, the National Emblem which replaced the ...
Banknotes of the Indian rupee include: Lion Capital Series: Banknotes of the Indian rupee printed between 1962 and 2000. Mahatma Gandhi Series: Banknotes of the Indian rupee printed between 1996 and 2018. Mahatma Gandhi New Series: Banknotes of the Indian rupee printed from 2016 to present.
Indian 1-rupee note; Indian 2-rupee note; Indian 5-rupee note; Indian 10-rupee note; Indian 20-rupee note; Indian 50-rupee note; Indian 100-rupee note; Indian 200-rupee note; Indian 500-rupee note; Indian 1000-rupee note; Indian 2000-rupee note
The Digital Rupee (e₹) [39] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [40] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [41] Digital Rupee is using blockchain distributed-ledger technology. [42]