500 Note Update: Is this 500 note real or fake, RBI made it clear
500 Rupee Fake Note - The government had taken out Rs 2,000 note from circulation on 19 May 2023. Since then, infiltration of currency notes into the market has increased rapidly. On the one hand, various types of news are coming out on social media regarding Rs 500 note. Recently a news has come out, in which it is being claimed that if this mark is made on the 500
The Kalamkar News (Bureau). A news is fast going viral on social media, in which it is being claimed that the use and transaction of fake notes of Rs 500 is increasing in the market.
It has been advised to be cautious in the viral message. According to the claim, since there is a signature on the note, it is being declared as fake.
A unique number is written on the lower right corner of the Indian note. It is being claimed in the viral message that if there is (*) sign on the unique number of your Rs 500 note, then it is a fake note.
You also have this 500 star note -
The message going viral on social media reads, "Rs 500 notes with star (*) mark have started circulating in the market. Such notes have been returned from IndusInd Bank.
These are fake notes. Even today, a customer Gave me 2-3 such notes, but I immediately returned them. The customer told that someone had given these notes to him in the morning.
Be careful, the number of people roaming in the market with fake notes has increased. However, if you also find these notes If you have received the message or you also have a Rs 500 note with a star on it, then do not panic.
If this mark is made on Rs 500 note, will it be considered gone?
Actually, PIB Fact Check has declared it a lie and rejected the claims that the star Rs 500 note is fake.
PIB Fact Check posted a screenshot of the viral message on its The message that the notes are fake is false! Star marked (*) ₹500 banknotes have been in circulation since December 2016.
Know what RBI says?
RBI has said that '*' will be used to differentiate the numbers of some banknotes. 'Star' banknotes in denominations of ₹10, ₹20, ₹50 and ₹100 are already in circulation.
At the same time, from November 8, 2016, notes of (*) series Rs 500 are also considered legal tender. ₹500 denomination banknotes with (*) were first issued in 2016.
Why is the star mark used: According to RBI, the star mark is used to replace a note which is misprinted or becomes unusable due to some mistake. Notes with star markings are issued to replace wrongly printed notes in a bundle of serial numbered notes.
Its use since 2006: According to RBI, the practice of star marked notes was started from the year 2006. Its purpose was to simplify the printing of notes and reduce the cost. Earlier, the Reserve Bank used to replace misprinted notes with correct notes of the same number.
However, the entire batch was kept separate until new notes were printed, increasing both costs and time. For this reason, the method of star marking was implemented, so that damaged notes could be replaced immediately.