RBI Clarifies Authenticity and Value of Banknotes Featuring Star (*) Symbol
The Reserve Bank of India (RBI) issued a comprehensive clarification on Thursday, seeking to address the authenticity and value of banknotes featuring a star (*) symbol on the number panel.
The move came in response to debates on social media that raised questions about the validity of such banknotes. The RBI emphatically stated that these notes are entirely genuine and carry the same value as any other legal tender in circulation.
According to the RBI's official statement, the star (*) symbol on the banknotes serves as an identifier, indicating that the particular banknote is a replacement for defectively printed ones in a packet of 100 serially numbered banknotes. These replacement banknotes are carefully introduced into circulation to uphold the overall quality and integrity of the currency supply.
The statement read, "The Star (*) symbol is inserted in the number panel of a banknote that is used as a replacement for defectively printed banknotes in a packet of 100 pieces of serially numbered banknotes. 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. The Star () symbol is an identifier that it is a replaced/reprinted banknote."
The RBI's clarification aims to dispel misleading posts on social media that have falsely claimed banknotes with an asterisk or star (*) mark in the number panel to be counterfeit. The central bank firmly reiterated that these banknotes have been in circulation for a considerable period and are entirely legitimate.
In fact, the introduction of the star (*) mark in the new Rs 500 denomination banknotes dates back to December 2016. Furthermore, the ‘star’ banknotes in denominations of Rs 10, 20, 50, and 100 have been in circulation since 2006, further corroborating their authenticity and acceptance.