Almost, every country facing the problem of fake currency circulation but in India this problem is rampant. Issue of Fake Currency note deeply touches mental state of Indian Economy think tank. Because it hurts growth rate of economy and also starting chain of acceptance of fake currency notes.
It is very important to know the difference between an authentic note & a fake note. Fake notes have no exchange value. These means that if you go to bank and deposit any forged notes, they would sign it and send it for further verification, without giving you any exchange money. As per estimate more than 3 Trillion fake currency notes are in circulation throughout India. Majority of this notes are printed in country like Pakistan & Bangladesh.
A suspected forged note, counterfeit note or fake note is any note which does not possess the characteristics of genuine Indian Currency note. In order to help common man RBI taken initiative to launch new website called “Paisa Bolta Hai” [www.paisaboltahai.rbi.org.in]. This website explains how one can detect fake currency note.
The RBI website Paisa Bolta Hai with tag line “Pehchano Paaise ki Boli Kyonki Paisa Bolta Hai” gives different check points for detection of Fake Currencies. This website contains details for all the denominations in circulation including 10, 20, 50, 100, 500 & 1,000 Rupee note. I have put together all the signs and authentication marks though which you will be able to judge the authenticity of notes. As an example I am presenting graphic of Rs. 1000 bank note with all specific location, whichever pointed out by RBI to curb fake currency note:-
(A) Paper Quality:
By touching the currency note you should be able to feel that paper used for currency note is different from our normal stationary paper. Genuine currency note is printed on crispy solid paper.
(B) Visual Indications: If you look carefully at currency notes, you will be able to identify several visual indications. These indications are given below:
- See through Register
The floral design printed both on the front and reverse in the middle of the vertical band next to the watermark window has the denomination numeral “10/20/50/100/500/1000”. Half the numeral is printed on the observe and half on reverse. Both the printed portions have an accurate back to back registration so that the numeral appears as one when viewed against light.
The portrait of Mahatma Gandhi, the multi-directional lines and an electrolyte mark showing the denominational numeral “10/20/50/100/500/1000” appears in this section and these can be viewed better when the banknote is held against light.
3. Optically variable Ink
The colour of numeral “100/500/1000” appears green when the note is held flat but would change to blue when the note is held at an angle. The Font size is reduced.
Number panels of the notes are printed in fluorescent ink. The notes also have optical fibres. Both can be seen when the notes are exposed to ultra violet lamp.
5. Security Thread
Tread which appears broken is actually complete. 3.00mm wide security thread with inscriptions “Bharat’ “RBI” and “100/500/1000” and colour shift from green to blue when viewed from different angles it will fluoresce yellow on the reverse and the text will fluoresce on the obverse under ultraviolet light. The threat is visible as a continuous line from behind when held up against light.
6. Intaglio Printing
The portrait of Mahatma Gandhi, the Reserve Bank Seal, Guarantee and Promise clause, Ashoka Pillar emblem on the left, RBI Governor’s Signature on the banknote and the identification mark for the visually impaired are printed in intaglio, which can be felt by touch.
7. Latent Image
The vertical band contains latent image showing the numeral “100/500/1000” when the banknote is held horizontally at eye level.
8. Micro Lettering
The letter “RBI” and numeral “10/20/50/100/500/1000” can be viewed with the help of magnifying glass in the zone between Mahatma Gandhi portrait and vertical Bank.
9. Identification Mark
10. Year of Printing
Right on the centre bottom, on the back side of the note, Year of Printing of Bank note is printed on banknote. You would be able to see it clearly.
What to do if you get fake Rupee Note?
It is very important to check for the genuineness of all notes you receive specially the larger denominations. A common man does not know what to do when he gets fake rupee note. The best way is to know how to detect fake currency notes and prevent it from coming to your hands.
But an Important Question is, even after all the cautions you have taken, if you get fake Rupee note from bank or from anyone unknowingly then what to do? I am sure 95% people will say they will not do anything. But my dear friends holding possession of fake currency note knowing to be such and intending to use the same as genuine or that it may be used as genuine, is a CRIME and punishable under Indian Penal Code, 1860.
As a responsible citizen you must make complain to nearest police station about source of that fake currency note. Make sure you are aware of source from where you got these fake currency notes. If you unable to explain from where you got these notes, you are liable to Imprisonment [i.e. Jail]. So you must remain extra cautious while doing cash transaction. If you are dealing with hundreds of notes at a time, it is wise to purchase currency detection device to detect fake currency notes. Hoping you will be benefited with suggestion like above mention.
Why has RBI decided to withdraw pre-2005 series banknotes?
RBI has decided to withdraw from circulation all banknotes issued prior to 2005 as they have fewer security features as compared to banknotes printed after 2005. It is a standard international practice to withdraw old series notes. The RBI has already been withdrawing these banknotes in routine manner through banks. It is estimated that the volume of such banknotes (pre-2005) in circulation is not significant enough to impact the general public in a large way and the members of public may exchange the pre-2005 series banknotes at bank branches at their convenience.
“Pay Heeds & Avoid acceptance of fake Currency…”
Source: Reserve Bank of India website & Google
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