Fact Check: Rs 500 currency notes with asterisk symbol are not fake
Social media users claim that Rs 500 currency notes with an asterisk symbol in its serial number need to be considered fake.
Claim :
Rs 500 currency notes with asterisk symbol are fake notes.Fact :
Rs 500 currency notes with asterisk symbol are legal tender notes issued by RBI
Social media users claim that Rs 500 currency notes with an asterisk symbol in its serial number need to be considered fake.
Netizens claim, “these 500 notes with * symbols have started circulating in the market…This is a fake note. There has been an increase in the number of hawkers carrying fake notes in the market.”
Below are a few such posts. Click here, here and here for the archives.
https://www.facebook.com/
FACT CHECK:
The Reserve Bank of India clarified that currency notes with the Star (*) symbols are identical to any other legal banknote. Notes printed with the symbol were printed as replacement for a set of defectively printed bank notes. It states: The star (*) symbol is inserted in the number panel of a banknote that is used as replacement for defectively printed banknotes in a packet of 100 pieces of serially numbered banknotes."
According to the RBI's website, in 2006 the bank adopted the "STAR series" numbering system for replacement and that the Star series banknotes are exactly similar to the other banknotes, but have an additional character viz., a *(star) in the number panel in the space between the prefixes.
In 2006, RBI had shared a press release clearly stating that notes under the Star series will look exactly like the existing banknotes but will have an additional character, viz., *(star) and that the Star series banknotes will be legal tender and members of the public may freely accept and use these banknotes.
The bank also shared this press release in a tweet.
