500 Rupees Note Holders! Home Ministry has issued important alert regarding Rs 500 note, know the latest update
Alert for ₹500 Note Holders!
The Home Ministry has issued a serious warning after receiving intelligence about high-quality counterfeit ₹500 notes in circulation. Financial institutions, regulators, and investigative agencies have been put on high alert.
Authorities have noted that these fake notes are nearly identical to genuine currency, making them hard to detect. However, a tiny flaw can help you identify the counterfeit.
If you have a ₹500 note, be extra cautious! The ministry has shared a simple trick to spot these fakes—look for a minor error that real notes do not have.
What is the identification of real and fake notes?
The ministry said that there is a mistake in writing ‘RESERVE BANK OF INDIA’ in fake notes. It is written correctly in real notes, but in fake notes ‘A’ is written instead of ‘E’. This mistake is so small that it can be easily ignored. Hardly anyone can catch it at first glance. The Home Ministry has described it as a ‘very important’ alert. Directorate of Revenue Intelligence (DRI), Financial Intelligence Unit (FIU), Central Bureau of Investigation (CBI), National Investigation Agency (NIA), SEBI and banks have been informed about this.
Inform the police or bank about the suspicious note
Banks have been told to be very careful in checking the cash. The ministry has also shared the picture of the fake note so that identification is easy. The government has also appealed to the common people to check the cash and if any suspicious note is seen, immediately inform the police or the bank about it. This small precaution can help prevent fake notes from circulating in the market.
How many fake notes are in the market?
The ministry said that once fake notes come into the market, it is difficult to find out their exact number. Information is received on the basis of people who deposit fake notes in banks. But in reality the number of fake notes can be much more than this.
Measures to prevent fake notes
The government told the Parliament that several steps have been taken to prevent fake notes. It provides for punishment under the Indian Justice Code, 2023 (BNS) and the Unlawful Activities (Prevention) Act, 1967. Apart from this, National Investigation Agency (NIA), FICN Coordination Group (FCORD) and Terror Funding and Fake Currency (TFFC) cells have also been created.
