Do you have a ₹500 note with a star symbol? Is it a counterfeit? A message has been circulating raising questions on the authenticity of ₹500 notes featuring a star symbol. In a world inundated with misinformation, it is crucial to turn to reliable sources for clarification.
PIB Fact Check, which bust fake news and misinformation related to the Government of India, informed via X that the message deeming ₹500 notes with a star mark as fake is false. It stated that star marked(*)₹500 banknotes have been in circulation since December 2016.
“Do you have a ₹500 note with a star symbol (*) Are you worried it’s fake Fret no more #PIBFactCheck The message deeming such notes as fake is false! Star marked(*)₹500 banknotes have been in circulation since December 2016,” the tweet read.
Meanwhile, the message spreading over social media deeming ₹500 notes with a star symbol as fake read, “500 notes marked with * have started circulating in the market. Such note was returned from IndusInd Bank. This is a fake note. Even today received 2-3 such notes from a custoner, but returned it immediateky due to attention. The customer also said that this note was given by someone in the morning. Be careful, there has been an increase in the number of people walking around with fake notes in the market.”
Reserve Bank of India (RBI) clarifies on star series banknotes
The RBI had in July 2023, released a clarification regarding the star series banknotes. It stated, “It has come to the notice of the Reserve Bank that the validity of banknotes with a Star (*) symbol present on the number panel has recently been the subject of discussions on some social media platforms. In this connection, it is informed that 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.”
“A banknote with a Star (*) symbol is identical to any other legal banknote, except that in the number panel a Star (*) symbol is added between the prefix and the serial number. The Star (*) symbol is an identifier that it is a replaced / reprinted banknote,” the bank added.
If you find yourself holding a ₹500 note with a star symbol, rest assured that it’s a genuine and legally recognized currency note. There’s no need to fret over its authenticity.