How to Recognize Fake Rs 500 Note To save Yourself

Rs 500 noteRecently the news of fake currencies being circulated in the country has been doing rounds. However, the latest news that is making people anxious is a picture of two Rs 500 currency note that give details instructing how to differentiate original note from its counterfeit currency note.

The picture with a green strip close to Gandhi Ji’s face and one away from the face is doing a round of the social media, along with a message. If reports are to be believed, the fake currency notes have been printed despite increased security measures by the Reserve Bank of India while printing the New Rs 500 currency note.

Rs.-500-noteThe NDA government’s demonetization drive was announced by Prime Minister Narendra Modi with an aim to bring out the hidden black money present in the country and to put an end to currency counterfeiting in the Indian economy. However, according to reports, the counterfeit currency has increased in the recent times.

According to a government based report and the data collected by Financial Intelligence Unit (FIU), there have been more than 3.53 lakh instances of counterfeit currency detection, which is believed to be the highest in the last eight years. The report read, “The number of counterfeit currency reports (CCRs) increased from a mere 8,580 in 2007-08 to 35,730 in 2008-09 and 3,53,837 in 2014-15.”

To back up these reports, there have been numerous cases where people have been arrested for printing fake currency notes. Some news reports have also confirmed that these notes are actually being circulated in various places. The WhatsApp picture that has gone viral clearly shows that the governor’s signature in one note was far away from the green strip on the Rs 500 note while the other was a normal note that we use in our day to day life.

Further, the message read, “Please do not accept Rs.500 Currency note on which the green strip is close to Gandhi Ji because it’s fake. Accept a currency note where the strip is near Governor’s signature. Please pass this message to all family and friends.”