Recently, the internet was flooded with images of Rs 500 notes claiming that the star (asterisk) note is fake and banks are returning them.
But the RBI clarified the confusion. These bills are part of the circulation. The star symbol is simply an identifier that means the note is a replaced or reprinted note.
This means that the bill was originally printed with a defect and was later replaced with a new bill that has the star symbol. The RBI has mentioned that these notes are legal tender and the first series of notes with the star symbol began circulation in 2006. Here are all the details.
What is viral information spreading on the Internet?
There were many tweets and Facebook posts on the internet claiming that these Rs 500 notes were fake and encouraging the public not to receive them.
Furthermore, these social media users also urged other people to spread this information without any fact-checking.
Vishwas News’ recent coverage on this issue mentions the viral image of a Facebook user known as ‘Ramchandra Rajput’ in which he mentions that a Rs 500 note with a star symbol was returned by IndusInd Bank and claims that it is a fake.
His social media post read: ”These 500 banknotes with the symbol * have started circulating in the market for 2 or 3 days. Said note was returned yesterday by the IndusInd Bank. This is a fake note. Also today a friend received 2 or 3 notes of this type from a client, but due to lack of attention he returned them immediately. The client also said that someone had given him this note in the morning.
“Take care of yourself. There has been an increase in the number of street vendors carrying counterfeit bills in the market. Appeal – Please be a conscious citizen, so spread this message to as many of your brothers as possible so that they can avoid harm and avoid reckless thieves. Thank you,” he added.
Source: Vishwas.News
Source: La Quinta
RBI Clarification
The RBI clearly stated that these IOUs are legal and there is nothing to worry about. The organization tweeted about the star notes on July 27, 2023 and the link followed in the tweet redirects to the RBI website press release which clearly says: “The Reserve Bank has learned that the validity of star bills
The symbol present on the number pad has recently been the subject of discussion on some social media platforms.” “In this sense, it is reported that the Star
The symbol is inserted into the number panel of a banknote that is used as a replacement for defectively printed banknotes in a package of 100 serially numbered banknotes.”
adds the press release.
Reserve Bank of India clarifies on Star series noteshttps://t.co/BFBYLbH8Ao
July 27, 2023
jagranjosh
Source: Reserve Bank of India These notes were first in circulation in 2006, when the RBI mentioned that it would issue a series of star notes and started with the denominations of Rs 10, Rs 20 and Rs 50.
The 2006 press release says: “The Reserve Bank of India will soon issue Star series banknotes. These will be issued, to begin with, in denominations of Rs 10, Rs 20 and Rs 50 in the Mahatma Gandhi Series-2005.”
Add.
jagranjosh
Source: Reserve Bank of India In 2016, another press release from the organization mentioned about the 500 rupee notes that will have an “inserted letter E” and some of the notes in this series will have an additional asterisk character.
Here is what RBI mentioned:
“Some of the legend notes will have an additional ‘*’ (star) character on the number panel in the space between the prefix and the number,” it adds.
jagranjosh
Source: Reserve Bank of India
To conclude, 500 rupee notes with a star symbol are not fake. They are simply reprinted notes that have been issued by the Reserve Bank of India (RBI) to replace damaged or defective notes. It is important to research the official website of RBI before making any statement about the currency as it may lead to panic.
Categories: Optical Illusion
Source: ptivs2.edu.vn