Currency Note With Star (*) Symbol In Number Panel Are Legal Notes, RBI Clarifies

Currency Note With Star (*) Symbol In Number Panel Are Legal Notes, RBI Clarifies

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The Reserve Bank of India (RBI) on Thursday clarified that a currency note with a star (*) symbol is identical to any other legal banknote. The clarification comes after some social media posts called the “500 notes with (*) symbol” fake. On Thursday, the RBI said that the symbol is inserted in the number panel of a banknote that is used as a replacement for defectively printed notes in a packet of 100 pieces of serially numbered banknotes.

“It has come to the notice of the Reserve Bank that the validity of banknotes with a Star (*) symbol present on the number panel has recently been the subject of discussions on some social media platforms,” the central bank said in a statement. 

“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,” it further said.

Adding that the Star (*) symbol is an identifier that indicates the note is a replaced/reprinted banknote.

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Earlier, a Facebook post circulating on Facebook claimed that “500 notes with (*) symbol have started circulating in the market… This is a fake note.” 

The User also asked people to “spread this message to more and more of your brothers so that they are spared loss and foiled by the worthless thieves.”

What is a “star series” banknote?

According to RBI, fresh banknotes issued by the Reserve Bank of India till August 2006 were serially numbered. Each of these banknotes bears a distinctive serial number along with a prefix consisting of numerals and letters. 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,” said the RBI’s FAQ on Indian Currency

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