Viral message claims this currency note is fake. Here's how RBI spots counterfeit Rs 500 note from genuine | Business News

2021-12-27 21:20:45 By : Ms. Alex Lee

An old viral message on WhatsApp and social media related to Rs 500 note has made a comeback, causing panic among people. The hoax being spread through the message is that the Rs 500 currency notes which have a green strip closer to the image of Gandhiji are fake and the notes in which the green strip is in the middle are real.

In case you see the message or know anyone who received the message, tell them there is nothing to worry as both the notes are genuine and none is counterfeit.

The fact-checking department of the government’s information wing, Press Information Bureau (PIB), had debunked the same in a statement issued in 2019.

“The viral message with images of both currency notes had claimed, “please do not accept Rs 500 currency note on which the green strip is close to Gandhiji because it is fake. Accept a currency note in which the strip is closer to the Governor’s signature. Please pass this message to family and friends,” claimed the malicious message which is again being circulated on the internet.   

#PIBFactCheck Claim: Images and TikTok Videos doing the rounds on #WhatsApp are claiming that ₹ 500 currency notes on which the green strip is closer to #Gandhi Ji are fake. Reality: Both these notes are acceptable currency. Conclusion: #FakeNews

Earlier, videos on now banned TikTok short-video platform had claimed that the currency notes were counterfeit —a claim that was rejected by PIB.

“Claim: Images and TikTok Videos doing the rounds on #WhatsApp are claiming that Rs 500 currency notes on which the green strip is closer to #Gandhi Ji are fake. Reality: Both these notes are acceptable currency,” PIB posted on Twitter.

The government in 2016 demonetised Rs 500 and Rs 1000 currency notes in a failed bid to curb black money and corruption. As much as 99.3% of the currency was returned and exchanges from banks pointing towards a minuscule impact, if any, on black money. A new series of Rs 500 notes with high-security features, listed below, were then printed and circulated.  

The Reserve Bank of India (RBI), on its financial education portal 'Paisaboltahai' lists all the way how a bearer of Rs 500 currency notes can spot whether they are genuine or counterfeit. Here are all markers: 

1. '500' numeral at the bottom left-hand of the obverse side of the note is see-through 

2. Latent image with the denomination numeral '500' is visible

3. Denomination numeral '500' written vertically in Devanagri  

4. Orientation and relative position of Mahatma Gandhi changed. It is placed in the middle of the banknote.

5. Mico letters 'भारत' and 'India' appear in a tilted vertical strip on Mahatma Gandhi's portrait in the middle of banknote on the obverse side

6. Right next to the portrait of Mahatma Gandhi, colour shift windowed security thread with inscriptions 'भारत' and 'RBI' appear. The colour of thread changes from green to blue when the note is tilted. 

7. Guarantee clause, Governor's signature with Promise Clause and RBI emblem towards right of Mahatma Gandhi's portrait. 

8. Portrait of Mahatma Gandhi emerges in watermark section. 

9. Number panel with numerals growing from small to big (in ascending font) on the top left side and bottom right side of the note.

10. Denomination in numerals with Rupee Symbol '₹500' in colour changing ink (green to blue) on the bottom right side.  

11.  Distinct Ashoka pillar emblem on the right 

12. Some features for visually Impaired: Intaglio or raised printing of Mahatma Gandhi portrait (4), Ashoka pillar emblem (11), circular identification mark with micro text 500 on the right. Five angular bleed lines on both the left and right sides.

13. On the reverse side, the year of printing of the note on left 

14. Swacch Bharat logo with slogan in the bottom left-hand side on backside of currency

15. Language panel towards the center on the backside of the note

16. Motif of the iconic Red Fort is showcased

17. Denomination of numeral '500' in Devanagri

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