RBI Guidelines 2023 : You also have 500 and 2000 notes, then know RBI’s new guidelines – very useful
RBI Guidelines 2023: The Reserve Bank of India (RBI) has warned people about the circulation of fake 500 and 2000 rupee notes. According to the notice, in circulation Rs. 500 counterfeit notes have doubled in the last year and Rs. 2,000 fake notes have seen a one-and-a-half-fold increase.
RBI Guidelines 2023
This is a significant concern for the financial year 2021-22, and the RBI is urging individuals to be vigilant and take necessary precautions while handling these high-value notes. It is recommended to check the note carefully before accepting it and report any suspicious note to the authorities.
Reserve Bank of India (RBI)
The Reserve Bank of India (RBI) has warned people about the circulation of fake notes of Rs 500 and Rs 2000. According to the RBI report for the financial year 2021-22, the circulation of fake Rs 2000 notes has increased by 52% and the circulation of fake Rs 500 notes has also increased significantly.
The report also said that circulation of fake notes of other denominations has increased, such as 16.4% increase in fake 10 rupee notes, 16.5% increase in fake 50 rupee notes, 11.7% increase in fake 20 rupee notes and 11.7% increase in fake 200 rupee notes. % increase. RBI is urging individuals to exercise caution and take necessary precautions while handling all types of currency and report any suspicious notes to the authorities.
Counterfeit notes of 50 and 100 rupees have reduced
The Reserve Bank of India (RBI) has issued new guidelines regarding the circulation of fake notes in the country, specifically the fake Rs. 500 and Rs. 2,000 notes marked a sharp increase with 102% in circulation.
Increase in fake Rs.500 notes and 52% increase in fake Rs.2000 notes. However, the new guidelines also see a reduction in the circulation of fake notes of other denominations, such as Rs. 50 fake notes reduced by 28.7% and Rs. 100 fake notes reduced by 16.7%. RBI is urging the public to exercise caution and take necessary precautions while handling all types of currency and report any suspicious notes to the authorities.
500 note highest share
According to the data recorded on March 31, 2021, in India Rs. 500 and Rs. 2,000 notes are on the rise, accounting for a significant share of 85.7% of the total currency. Rs. 500 note has the highest share of 34.9%, while Rs. 2,000 note comes second with 51% share. The 10 rupee note has the third largest share of 21.3%.
This figure shows that Rs. 500 and Rs. 2,000 notes are the most widely used notes in India, thus the RBI is warning the public to be alert and take necessary precautions while handling these high-value notes and to report any suspicious notes.
RBI Guidelines 2023
To identify a genuine 500 rupee note, you can look for the following features:
The number 500 is written in Devanagari script on the front side of the note.
Portrait of Mahatma Gandhi in the center of the note.
The obverse side of the note has fine letters reading “India” and “RBI”.
A color-changing security thread between the words “India” and “RBI” that changes from green to blue when the note is held up to the light and tilted.
Additionally, you can check the following items on the ₹2000 note:
The number 2000 is written in Devanagari script on the front side of the note.
Portrait of Mahatma Gandhi in the center of the note.
The obverse side of the note has fine letters reading “India” and “RBI”.
A color-changing security thread on the right side of the note, which changes from green to blue when held up to the light and tilted.
A see-through register with the denomination 2000 on the right side of the note when held up to light.
A latent image with the numeral 2000 visible when the note is held at a 45-degree angle at eye level.
It is important to note that these are only a few of the many security features of currency notes and it is always best to refer to the official guidelines issued by the Reserve Bank of India to ensure that you are able to identify genuine notes.