Debunking what it said were ‘discussions on some social media platforms’ regarding its ‘Star’ series of banknotes, the Reserve Bank of India (RBI) on Thursday stated that these are completely valid, just like any other legal banknote.
“…except that in the number panel a ‘Star’ (*) symbol is added between the prefix and the serial number,” the RBI said in its press release.
What are RBI’s ‘Star’ series banknotes?
According to the central bank, the symbol to identify a banknote that is being used as a replacement for a ‘defectively printed’ counterpart.
(1.) Till August 2006, the RBI-issued banknotes were serially numbered. Later, it adopted the Star numbering system to identify a banknote being used as a replacement.
(2.) Under the serial number system, these were given a distinctive serial number, and a prefix with numerals and letter(s).
(3.) Under the Star system, this symbol comes as an additional character, and is placed in the number panel in the space between the prefix and the serial number.
(4.) Both arrangements are for a packet containing 100 serially numbered banknotes.
(5.) There is, therefore, no difference between the two sets of banknotes, except that one is used as a replacement, and comes with ‘Star’ as an additional identifier.
For all the latest business News Click Here
