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.
Assessment Order without digital or manual signature is non-est and illegal In a recent judgment, Delhi ITAT has held that…
Once assessee filed ITR, in response to the notice u/s 148 of the Act, even beyond time prescribed, Assessing Officer…
Petitioner was not disqualified in tender for submitting EMD by way of Fixed Deposit in place of Demand Draft -…
State Bank of India in its General Meeting of the Shareholders elected four Directors to the Central Board. The meeting…
Voluntary declaration of additional income by increasing WIP was not proper, as assessee will take the additional benefit in the…
Cash payment for purchase of land or property cannot be treated as violation of provisions of section 269SS or 269T…