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.
Deduction u/s 80P denied as assessee did not file return u/s 139(1) but beyond the due date only in response…
High Court denied pre-arrest bail to accused of fake ITC utilisation on possibility of misusing the concession of pre arrest…
Return could not be said to be non est for non e-verification when AO had been taken due cognizance of…
Section 43CB read with ICDS-III is applicable to contractors and not real estate developers - ITAT In a recent judgment,…
Expenses incurred on ESOP are allowable as revenue expenditure u/s 37(1) of Income Tax Act – ITAT Delhi In a…
Compliance history of supplier could not be used to invalidate the genuine business transactions of the buyer especially when the…