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This is an archive article published on July 20, 1999

Accept Rs 500 notes — RBI

PUNE, JULY 19: The Reserve Bank of India has advised in public interest that all Rs 500 notes issued by it are legal tenders and banks an...

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PUNE, JULY 19: The Reserve Bank of India has advised in public interest that all Rs 500 notes issued by it are legal tenders and banks and members of the public should continue to accept these notes in their daily transactions.

It has come to the notice of the RBI that currency notes in the denomination of Rs 500 are not being readily accepted by the public for fear of their being forged. The fear of forgery is largely reported in the currency notes in the denomination of Rs 500 in the old series which are green in colour water-marked with the Ashoka Pillar and a portrait of Mahatma Gandhi.

The RBI has also advised that people could themselves check whether a Rs 500 note (in the old series with Ashoka Pillar in the watermark) is genuine or not by ensuring that they contain the following features: the watermark of Ashoka Pillar emblem is clearly seen when held against the light as a light and shade effect, the legend “Reserve Bank of India,” “500” printed in the centre of the note, the promise clause in Hindi and English, Ashoka Pillar emblem, Mahatma Gandhi portrait, language panel, five small black lines on the left side of the note meant to be an identification mark for the blind are raised and can be felt by touch.

To help public identify genuine notes in the new series of Rs 500, the security features of these notes that can be seen with naked eyes include a portrait of Mahatma Gandhi in the watermark, the security thread is placed on the right hand side of the note and can be easily identified as broken silver line, but if held against this light, this silver line can be seen as a black line.

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