The Rs 500 note is the main medium of exchange in India, but the growing problem of counterfeit notes has raised concerns. Recently, the Reserve Bank of India (RBI) has issued new guidelines to identify and prevent counterfeit Rs 500 notes. If you use cash, it is very important to know these guidelines, otherwise you may get cheated.
The growing threat of fake Rs 500 notes…
According to recent reports, fake Rs 500 notes have reached banks and ATM machines. The surprising thing is that even banks and ATM machines equipped with modern technology are not able to identify these fake notes. In such a situation, it has become very important to identify the notes while making cash transactions.
RBI has recently taken this problem seriously and has shared measures to make the public aware and protect them from fake notes. Let us understand in detail how you can identify real and fake Rs 500 notes.
How to identify a fake Rs 500 note?
According to the new RBI guidelines, here are some of the key features to identify a genuine Rs 500 note:
The number “500” printed on the original note is transparent. To see it, look at the note in dim light.
The number “500” is also printed in Devanagari script on the original note.
The historical monument of India, the Red Fort, is printed on the back of the note. The logo and slogan of the Swachh Bharat Abhiyan are also written below this image. The
signature of the RBI Governor is present on the original note.
The note has “Bharat” written in Hindi and “India” in English in small letters.
Concerns related to the problem of counterfeit notes
According to the data provided by RBI, the number of counterfeit notes is increasing rapidly. The presence of counterfeit notes in the market not only causes financial loss but has also become a big problem for the common people. Due to the inability to identify counterfeit notes, people are falling prey to fraud.
What does the new RBI guideline say?
The RBI has advised the public to be cautious in cash transactions and look for the above features to identify fake notes. Apart from this, the RBI has also directed banks to make their systems more accurate and effective so that fake notes can be detected.
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