RBI reports over 100% increase in fake ₹ 500 notes : authenticity check here

May 28, 2022 08:00 pm

RBI detected 101.9% more fake notes of ₹ 500 denomination and a 54.16% increase in fake notes of ₹ 2,000 as compared to the previous year.

The number of bank notes of ₹ 2000 denomination has steadily declined over the years to touch 214 crore or 1.6 per cent of the total currency notes in circulation at the end of March this year.

At the end of March 2020, the number of ₹ 2000 denomination notes in circulation stood at 274 crore, accounting for 2.4 per cent of the total number of currency notes in circulation. The count declined to 245 crore or 2 per cent of the total bank notes in circulation as of March 2021 and further fell to 214 crore or 1.6 per cent at the end of last fiscal year.

The number of ₹ 500 denomination notes in circulation rose to 4,554.68 crore at the end of March this year as against 3,867.90 crore in the year-ago period.

Check the authenticity of ₹ 500 note

1. If the light is shed on the currency note, you will be able to see 500 written in special places.

2. 500 will also be written in Devanagari on the currency note

3. Orientation and relative position of Mahatma Gandhi's photo shifts to the right.

4. India will be written on the ₹ 500 currency note.

5. When the currency note is bent, the security head colour will change from green to indigo.

6. Governor's signature, guarantee clause, promise clause, and RBI emblem have moved to the right of the currency note

7. Mahatma Gandhi's photo and electrotype watermark are there on the currency note.

8. Colour of the ₹ 500 written on the note changes from green to blue.

9. Ashoka Pillar on the right side of the currency note

10. Printed Swachh Bharat logo and slogan