The Reserve Bank of India recently announced very important guidelines with regard to ₹500 notes, an update for which every citizen must be aware of. Given that counterfeit currency is increasingly being circulated in the market, especially through ATMs, it would be necessary to keep yourself updated so that you don’t get duped by using fake currency notes.
If you have ever wondered how a genuine ₹500 note differs from that of a fake one, then this article will take you through the latest updates from RBI and practical tips to check if your money is real.
The Emerging Concern of Fake ₹500 Notes
In recent times, this has somehow turned into a very serious issue and even ATMs have given out fake ₹500 notes. Unsuspecting people find themselves in a very difficult situation. It’s quite disturbing, and the RBI has come up with pretty detailed guidelines to empower people in their efforts to distinguish real notes from fake ones. So, whether you are withdrawing cash from an ATM or getting changed at a store, you can save yourself the unnecessary trouble by learning how to spot forgers.
Main features of a real ₹500 currency note
The RBI has emphasized several safety features embedded in the ₹500 note, which helps you confirm its genuineness. Here is a summary what to check:
- Signature of the RBI Governor
A real ₹500 currency note has the signature of the Governor of Reserve Bank of India. This is one of the most basic things you should find out. - Picture of the Red Fort
The back of the note bears a picture of the Red Fort that certainly stands testimony to India’s rich cultural heritage. The intricate design is a hallmark of authenticity. - Transparent Denomination Number
The number “500” inscribed on the note appears transparent when light is held against it-there is no necessity of this feature in counterfeit notes. - Latent Image
When held at a 45-degree angle, one gets visible a latent image of the denomination number (500) on the note. This is quite a sophisticated security measure, hard to reflect. - Devanagari Script
Highly imbued security, with the denomination number being inscribed in Devanagari script in words. - Portrait of Mahatma Gandhi
This note clearly has an impressive and detailed portrait of Mahatma Gandhi in the center. The more blurry, hazy, or inconsistent this image appears, the bigger the red flag. - Micro-Lettering
Again, the words “Bharat” (in Hindi) and “India” (in English) are printed in tiny letters which can’t be replicated in fake notes. - Security Thread with Color Changing Feature
A vertical security thread on the left side of the note that changes color from green to blue when tilted. Further, it carries the imprint of “Bharat” and “RBI” in Devnagri script on the thread. - Discription-Note Size and Color Scheme
The dimensions of a ₹500 note are 63 mm x 150 mm. Its fundamental color is stone gray while both sides contain complicated geometric patterns.
How to Protect Yourself from Fake Notes
With counterfeit notes becoming increasingly sophisticated, it’s crucial to stay vigilant. Here are some practical steps you can take:
- Examine Notes Carefully: Always check the security features mentioned above when receiving a ₹500 note.
- Use ATMs from Trusted Banks: Opt for ATMs located inside bank premises or at secure locations to minimize the risk of receiving fake currency.
- Report Suspicious Notes: If you come across a note that seems counterfeit, report it to the nearest bank or police station immediately.