A viral claim suggests that ₹500 notes with a star symbol (*) are fake. However, Channeliam Fact Check confirms that this claim is false. These notes are legally issued by the Reserve Bank of India (RBI) and remain valid currency.
RBI’s Official Statement
The RBI introduced ₹500 notes with a star symbol in December 2016 as part of the Mahatma Gandhi (New) Series. These notes include an additional ‘*’ (star) in the number panel but remain legal tender.
In a press release dated December 16, 2016, the RBI clarified that:
- ₹500 denomination notes were issued with an inset letter ‘E’ in both number panels.
- These notes bear the signature of Dr. Urjit R. Patel and have the Swachh Bharat logo on the reverse.
- Some of these notes feature a star symbol in the number panel, placed between the prefix and the number.
Purpose of the Star Symbol
The star-marked banknotes help replace defective or damaged notes without affecting the serial order of issued currency. This system was first introduced by the RBI in April 2006 for ₹10, ₹20, ₹50, and ₹100 denominations. The ₹500 star notes were introduced for the first time in 2016.
Legal Status of ₹500 Notes
All ₹500 banknotes issued from November 8, 2016, onwards remain legal tender. The presence of a star symbol does not indicate fake currency.
The viral claims about ₹500 notes with a star being fake are misleading. RBI has confirmed their authenticity, and these notes are valid for transactions.
