diff --git a/.version b/.version
index 3490df66..7f207151 100644
--- a/.version
+++ b/.version
@@ -1 +1 @@
-v3.16.0
+v3.16.1
diff --git a/README.md b/README.md
index f1b74ac0..9095b0a4 100644
--- a/README.md
+++ b/README.md
@@ -1,4 +1,4 @@
-[![GitHub version](https://d25lcipzij17d.cloudfront.net/badge.svg?id=gh&type=6&v=v3.16.0&x2=0)](https://github.com/Praqma/helmsman/releases) [![CircleCI](https://circleci.com/gh/Praqma/helmsman/tree/master.svg?style=svg)](https://circleci.com/gh/Praqma/helmsman/tree/master)
+[![GitHub version](https://d25lcipzij17d.cloudfront.net/badge.svg?id=gh&type=6&v=v3.16.1&x2=0)](https://github.com/Praqma/helmsman/releases) [![CircleCI](https://circleci.com/gh/Praqma/helmsman/tree/master.svg?style=svg)](https://circleci.com/gh/Praqma/helmsman/tree/master)
 
 ![helmsman-logo](docs/images/helmsman.png)
 
diff --git a/internal/app/main.go b/internal/app/main.go
index 8ad6e89b..b4654b74 100644
--- a/internal/app/main.go
+++ b/internal/app/main.go
@@ -8,7 +8,7 @@ import (
 const (
 	helmBin            = "helm"
 	kubectlBin         = "kubectl"
-	appVersion         = "v3.16.0"
+	appVersion         = "v3.16.1"
 	tempFilesDir       = ".helmsman-tmp"
 	defaultContextName = "default"
 	resourcePool       = 10
diff --git a/release-notes.md b/release-notes.md
index b65e8335..5aac0166 100644
--- a/release-notes.md
+++ b/release-notes.md
@@ -1,13 +1,5 @@
-# v3.16.0
-
-## New feature
-
-- Allow setting the chart version to latest (#735)
+# v3.16.1
 
 ## Fixes and improvements
 
-- Dependency version upgrades (dependabot)
-- Fix for YAML anchors (#734)
-- Simplified decrypt secret code (#738)
-- Suport using the metadata seerver for GCS auth in GCP (#746)
-- Documentation fixes (#740)
+- Fix issue with checking for local chart updates