Star Series Banknotes are legal – Reserve Bank of India clarifies on Star Series Banknotes
Recently, in social media, a post went viral claiming that if there is a star in the middle of the numbers of the Bank note then it is a fake note. As per the viral posts people was mislead suggesting to return such note to the bank.
Today, RBI has issued a clarification on Star Series Bank notes on the validity of banknotes with a Star (*) symbol present on the number panel.
According to RBI, the Star (*) symbol is inserted in the number panel of a banknote that is used as replacement for defectively printed banknotes in a packet of 100 pieces of serially numbered banknotes.
It has been stated that 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.
Thus, the Star (*) symbol in a bank note is an identifier that it is a replaced / reprinted banknote.
Information about the “Star Series” banknotes is available on the RBI website as part of FAQ as under:
Answer: Fresh banknotes issued by Reserve Bank of India till August 2006 were serially numbered. Each of these banknote bears a distinctive serial number along with a prefix consisting of numerals and letter/s. The banknotes are issued in packets containing 100 pieces.
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.
When information contained in loose papers not corroborated with assessee, there is absolutely no room for presumption that it belongs…
When CIT(A) order to remand case to AO was set aside without interfering with direction to delete addition, order of…
Whether a prohibited claim in a contract applies only to the employer and not to the Arbitral Tribunal – Matter…
Where a contractual employee is terminated on the sole ground of ineligibility, the Court is entitled to examine its correctness…
Upon deceased acquiring family, GPF nomination in favour of mother became invalid and in absence of fresh nomination, mother and…
GSTN Advisory on Auto Suspension of GST Registration due to Non-Furnishing of Bank Account Details as per Rule 10A As…