"The new denomination has motif of Hampi with chariot on the reverse, depicting the country's cultural heritage. The base colour of the note is fluorescent blue," the central bank said in a statement.
The bank notes of Rs 50 denomination issued by the Reserve Bank in the earlier series will continue to be legal tender, it said.
The dimension of the bank note will be 66 mm x 135 mm, the RBI said.
The Rs 50 denomination bank notes in the new series will bear the signature of RBI Governor Urjit R Patel.