MONEY
Check the Rs 500 note in your wallet right now.
RBI detected a 20% surge in fake ₹500 notes in circulation over the past year, which make up ~61% of all counterfeit notes.
The volume of ₹500 notes in circulation increased about 11.2% this year, making them vulnerable to counterfeiting.
While RBI is testing new security mechanisms and varnishing to improve durability, you can take some steps, too, to avoid getting scammed.
How to check for fake notes
- •SECURITY THREAD: When you tilt the note at different angles, the colour of the security thread (a vertical line with inscriptions of ‘Bharat’ (in Hindi), and ‘RBI’) changes from green to blue.
- •WATERMARK: In the blank white space, a faint, semi-transparent portrait of Mahatma Gandhi and a watermark with the number "500" can be seen against light.
- •RAISED PRINT: The portrait of Mahatma Gandhi, the Ashoka Pillar emblem, and the raised bleed lines on the left and right edges can be felt with your fingers.
- •TYPOS, ERRORS: Look for any typing or formatting errors. Source: RBI
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