In response to a recent social media buzz surrounding the authenticity of Rs 500 notes featuring a star (*) in the middle of the serial number, the Reserve Bank of India (RBI) has stepped forward to address the issue. The central bank has categorically dismissed all concerns, asserting that the presence of a star in the serial number does not render the note fake or illegal.
According to the RBI’s statement, Rs 500 notes with a star mark are entirely legitimate, and they hold the same value as any other note. The star mark is intentionally incorporated into the number panel of the note to replace incorrectly printed notes. Unfortunately, some individuals, upon noticing the star mark, incorrectly interpreted it as a sign of counterfeiting or illegitimacy, prompting the RBI’s response.
The star mark appears as part of the serial number, positioned between the numerical figures and the letters accompanying it. The RBI has clarified that these notes are legal tender and can be used in everyday transactions without hesitation. The sole purpose of the star mark is to signify that it has been issued as a replacement for a previously misprinted or flawed note.
It’s worth noting that the practice of using star-marked notes was introduced in 2006 with the aim of streamlining the printing process and reducing production costs. Previously, the RBI would replace misprinted notes with new ones bearing the same serial number. However, the introduction of star-marked notes has simplified this procedure and maintained the integrity of the currency.
In summary, the recent rumours and misconceptions regarding Rs 500 notes with a star mark have been laid to rest by the RBI’s clarification. These notes remain a valid and widely accepted form of currency, serving as replacements for flawed or incorrectly printed notes while maintaining their legal tender status.
