How to spot fake Rs 500 notes? Check out RBI guidelines for the same
The Reserve Bank of India has issued a warning regarding counterfeit 500 rupee notes. Reports indicate a surge of fake 500 rupee notes in circulation. Here's a simple guide to distinguish between genuine and counterfeit 500 rupee notes.
Follow500 Rupee Note Reliance Post Demonetization
Post demonetization, the 500 rupee note remains a significant denomination, especially with the discontinuation of the 1000 and 2000 rupee notes. Reports indicate a significant increase in counterfeit 500 rupee notes in circulation over the past five years, a rise of 317%.
Parliamentary Data
Parliamentary data reveals a rise in counterfeit currency from 21,865 million pieces in 2018-19 to 91,110 million in 2022-23, decreasing by 15% to 85,711 million in 2023-24.
Beware of Counterfeit Currency
Public awareness is crucial to combatting the issue of counterfeit currency. The Reserve Bank of India provides guidelines to identify counterfeit notes, aiding in public awareness and prevention.
First Step
A genuine 500 rupee note measures 66mm x 150mm. The security thread changes color from green to blue when tilted.
Second Step
The numeral '500' is inscribed in Devanagari. The watermark features Mahatma Gandhi's portrait and the number '500'.
Third and Final Step
Mahatma Gandhi's portrait is clearly visible in the center of the note. 'India' and 'RBI' are printed in micro letters. Ascending numerals are present on the top left and bottom right. The year of printing is on the left, and the Ashoka Pillar emblem is on the right.
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