Tuesday, June 25, 2024

Star series bank notes are legal – RBI clarified

The Reserve Bank of India (RBI) clarified that a banknote with a star (*) symbol is the same as other legal banknotes except that in the number panel, a star symbol is added between the prefix and the serial number.

This news published in Money Control website. According to that, The star symbol is an identifier that it is a replaced or reprinted banknote, the RBI said in a press release. The clarification came in the backdrop of discussions on social media on the validity of banknotes with a star symbol.

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 currency notes, the central bank said.

The Bank adopted the star series numbering system for replacement of defectively printed notes in a packet of 100 pieces of serially numbered banknotes.

The star series are similar to the other notes but have an additional character, a star, in the number panel in the space between the prefix and the serial number.

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