Bithiri Sathi Finding 500 Change:

The ₹500 banknote denomination was first introduced by the Reserve Bank of India in October 1987 in order to contain the volume of banknotes in circulation due to inflation.The note prominently featured the portrait of Mahatma Gandhi instead of the Emblem of India, the Lion Capital of Sarnath. Popularity of this design led to the eventual redesign of the motifs of Indian banknotes and the introduction of the Mahatma Gandhi series banknotes. On 8 November 2016, the Indian prime minister Narendra Modi announced the demonetization of the old ₹500 banknotes in the Mahatma Gandhi Series as a measure to fight corruption and address the issue of counterfeit currency. This note is replaced by a new 500 rupees note banknote starting of Mahatma Gandhi (New) Series of banknotes.

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