The scrapped Rs 1,000 bank note will be rolled out in few months with a new colour combination, dimension and design, economic affairs secretary Shaktikanta Das said on Thursday.
The Rs 1,000 note along with Rs 500 denomination currency was demonetised by the Narendra Modi government on Tuesday to tackle the menace of black money and corruption.
The RBI has already released new currency of Rs 500 and Rs 2000.
For the convenience of customers in depositing and exchanging old currency notes, the RBI has directed all banks to remain open for public on Saturday and Sunday this week.
(With inputs from agencies)