A post is doing the rounds on social media claiming that ₹500 notes with an asterisk (*) symbol, in circulation for the past few days, are fake.
The Facebook post reads: Since last 2-3 days these 500 notes with * symbol have started circulating in the market. Such a note was returned from IndusInd Bank yesterday. This is a fake note. Even today, a friend received 2-3 such notes from a customer, but immediately returned them due to lack of attention. The customer also said that someone gave this note in the morning. Take care. There has been an increase in the number of hawkers carrying fake notes in the market. Appeal: Please be a conscious citizen… spread this message to more and more of your brothers, so that they are spared loss. Thank you.
Here’s the link to the above post.
FACT CHECK
NewsMobile fact-checked the post, and found the claim to be false.
The official website of the Reserve Bank of India (RBI) in a press release, dated July 27, 2023, clarifies that the note is legal.
“In this connection, it is informed that the Star (*) symbol is inserted in the number panel of a banknote that is used as a 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 statement read.
Moreover, in the FAQ section of the RBI, it is mentioned that ‘The Bank adopted the “STAR series” numbering system for replacement of defectively printed banknote in a packet of 100 pieces of serially numbered banknotes. 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 prefix.’
We also found a Press Realse from 2006 where it was stated that the ‘star’ prefix would be added to the denomination of ₹10, ₹20, ₹50.
Searching further, we also found that ₹500 notes with ‘*’ have been in circulation since 2016. In a Press note, dated December 2016, RBI had informed that the new ₹500 denomination banknotes from November 8, 2016 onwards will continue to be legal tender.
Thus, from the above information, it is clear that the vial post is false.
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