Star Series Banknotes are legal – Reserve Bank of India clarifies on Star Series Banknotes

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:

Question : What is a “star series” banknote?

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.

• No separate compensation for loss of love and affection under MV Act – SC
• Trust accredited by National Open School eligible for registration u/s 12AB & u/s 80G
• Delay in furnishing Form 10B – Covid Period to be excluded as per decision of Supreme Court
• Section 271AAB does not grant any immunity from penalty in terms of section 273B
• Engagement of ‘Young Professional’ in the office of the PCCT Bihar & Jharkhand