How is ₹500 note increasing RBI's problems? | Be aware of fake currency.

 

How is ₹500 note increasing RBI's problems? 

Is the ₹500 note in your pocket increasing RBI's problems? This ₹500 note can increase not only RBI but also your problems. But how? You will say that recently the ₹2000 note has been withdrawn from circulation. Is it now the turn of ₹500 note? No, don't panic. But this is a matter of concern.

That's why read today's news carefully. Every year the Reserve Bank of India releases its annual report, in which many types of information are shared about the currency. But this time information shared is going to create problems from common people to RBI itself.

According to the annual report of the Reserve Bank of India, the number of fake ₹ 500 notes detected in the banking system has increased by 14.6% in 2022-23 as compared to the previous year, and it has increased to 91,110 notes. At the same time, the number of fake ₹ 2,000 notes detected by the system has come down by 28% to 9,806 notes during the same period.

Now here you may not be so concerned with the 2000 notes, but the 500 note will still be in your pocket. Therefore, the relieving news is that the total number of fake currency notes detected in the banking system has come down to 2, 25,769 notes in 2022-23 as compared to 2,30,971 notes in the previous financial year. But does this story end here?

But the thing to think about is that RBI is presenting only those figures which are in front of it. That is the notes which were caught by the banking system while depositing them in the bank. But what about those notes which are still being used in transactions from one hand to another in the market? Their details are not available even today. 

And this is where the real big problem starts because the victim here is you people, so you must be alert first. But how, let's know. It is most important here that you can identify by yourself what a fake note looks like. Gandhiji's photo is watermarked in Indian currency. This watermark helps you to differentiate fake notes from genuine ones. 

People making fake currency use heavy oil or grease to make a watermark. Because of this, the watermark appears thicker than normal. That's why while taking money from someone, pay attention to the watermark. Apart from this, you can also know the typography of the words Reserve Bank of India to detect fake notes. 

These words will appear rough on fake notes, while on genuine notes they look much smoother. Whereas Indian currency has numerical figures. These numbers will help you to identify fake currency. If you look carefully, you will see bad formatting on these numbers. You will also see strange gaps between these numbers. 

Even the numbers can appear big and small, and through this, you can easily identify whether this note is fake or not. Apart from this, the ink on the note should also be checked. If you look closely at the fake note, you will see bad printing. If you also have a fake note then you will see a brown line. 

In this way also you can find out whether the currency you have is real or fake. You will see a line in the middle of a fake note. This line is called the security thread. In fake notes, this thread appears printed, but in reality, it is like a thread, not printed. Come on, this is just a matter of information. Hope you have got the information. 

You will say that ₹ 500 notes will be one or two, but here it is important to keep in mind that if you are doing a big deal or you have two, four, five, or ₹ 10 notes of ₹ 500 then this amount is huge. This is a big deal for the common man, but is this issue limited only to 500 notes? No, but every note kept in your pocket can also be fake. 

RBI data says that 17,755 fake notes of ₹50 have been found in FY2023. Similarly, 78, 699 fake notes of ₹ 100 have been found in FY 2023 and 27,258 fake notes of ₹ 200 have been found in FY 2023. These figures of RBI.

Generally, people can have more notes than this in their hands. However, it is not that all this is limited to ₹ 50, ₹ 100, ₹ 200 only. You can also find fake ₹ 20, ₹ 10, and ₹5 notes, but the chances of getting fake are less for smaller notes. But still, be careful if possible and save yourself from harm.