Are 500 Star Series notes fake? RBI clarified on this

Are 500 Star Series notes fake

New Delhi: For the last several days, a post is becoming very viral on social media, in which it is being claimed that fake notes with a special symbol are running in the market. According to the viral post, there is a star in between the numbers written on the fake note. But, now RBI has made it clear that the star-marked notes are genuine and the claims being made in the viral post are absolutely false. By the way, this is not the first time that rumors have been spread about the star-marked notes. Even before this, claims were made of its being fake.

According to a Moneycontrol report, the Reserve Bank of India (RBI) clarified on July 27 that the Star (*) marked banknote is completely genuine. Many such notes from 10 to 500 rupees are in circulation, in which there is a star mark after 3 letters in the middle of the series and later the rest of the numbers are written. RBI says that the star mark made with numbers indicates that it is a changed or reprint ie reprinted banknote. This note is completely genuine.

That’s why you have to reprint
Star-marked currency notes are issued in lieu of currency notes which get damaged during printing or have any type of defect which is detected during printing itself. RBI prints a bundle of 100 notes. Some notes in a bundle are not printed correctly. To change those notes only the system of the Star series has been adopted. These notes have been in circulation for a long time. Such notes are issued by RBI. These notes also have the same value as other notes. If you get a currency note with the Star series from somewhere, do not panic, but accept it happily.

Are 500 Star Series notes fake

In practice since 2006
From the year 2006, the Reserve Bank of India started issuing currency notes with a star symbol. Initially, only 10, 20, and 50 rupee notes with star symbols were printed. Now big notes are also being printed. Whenever such currency notes are issued, a strip is placed on their packet. It is written above that the packet contains notes with star symbols so that they can be identified.