RBI issues alert after fake notes of 50, 200 came in circulation, gives information to identify

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Published by Riya Sharma on 15 Feb 2021

Amid the growing circulation of fake currency notes, the Reserve Bank of India has taken up steps to make the general public aware of identifying counterfeit notes. Several reports have claimed that due to people being cautious about the higher denomination notes, those running a racket of counterfeit notes have shifted their focus on circulated lower denomination notes like Rs 100 and Rs 50.`

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RBI is celebrating Financial Awareness Week. On the occasion, the central bank’s Regional Director Laxmikant Rao has provided vital information. He informed how people can identify a fake currency note and how customers can register a complaint if he or she is not satisfied with the service of the bank or has an issue.

Front

1. See-through register with denominational numeral 50

2. Denominational numeral ५० in Devnagari

3. Portrait of Mahatma Gandhi at the center

4. Micro letters ‘RBI’, ‘भारत’, ‘INDIA’ and ‘50’

5. Windowed demetalised security thread with inscriptions ‘भारत’ and RBI

6. Guarantee Clause, Governor’s signature with Promise Clause and RBI emblem towards right of Mahatma Gandhi portrait

7. Ashoka Pillar emblem on the right

8. Mahatma Gandhi portrait and electrotype (50) watermarks

9. Number panel with numerals growing from small to big on the top left side and bottom right side.

Reverse (Back)

10. Year of printing of the note on the left,11. Swachh Bharat logo with slogan,12. Language panel,13. Motif of Hampi with Chariot,14. Denominational numeral ५० in Devnagari.

Talking about raising a complaint against a bank if it is not listening to the customer’s complaint, the central bank has listed the steps to follow to raise it. To register a complaint before the Lokpal against any institution regulated by the Reserve Bank of India (RBI), a customer can log on to https://cms.rbi.org.in.

It may be noted that the RBI organizes the Financial Awareness Week every year. RBI appeals to people to make sure that they are receiving and dealing in real currency notes. In case, one finds a counterfeit or fake note, she should immediately inform the concerned authorities.

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