Counterfeit Currency: Banks, financial regulators and investigative agencies have been alerted based on the intelligence received by the Home Ministry. The quality of fake 500 rupee notes is also said to be good. It is difficult to differentiate them from real notes. But you can catch it by noticing a small mistake.
500 Rupees Fake Note: If you also have a 500 rupee note in your purse, then this news is for you. Yes, a big alert has been issued by the Home Ministry regarding the 500 rupee note. The ministry told banks and financial institutions that ‘very high quality fake notes’ of 500 rupees have entered the market. An easy way to identify these fake notes has also been told. The Home Ministry has alerted banks, financial regulators and investigative agencies based on intelligence. The quality of these fake 500 rupee notes is so good that it is difficult to differentiate them from real notes. But a small mistake can help in catching these fake notes.
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.
