Fact Check: Is a Rs 500 note with a star symbol fake? Some users made this claim on social media. According to a viral post on social media, a user claimed that a Rs 500 note with a star symbol is fake. A Facebook user named Chouri Sahab shared a picture of the note, writing, "Rs 500 notes with a star symbol have started circulating in the market. Such a note was returned from IndusInd Bank. It is a fake note. Today, a customer received 2-3 such notes, but they were immediately returned upon inspection. The customer also mentioned that someone gave him this note in the morning. Be cautious, the number of people circulating fake notes in the market has increased. Please forward this message to other groups and friends-relatives to spread awareness and remain vigilant."
What is the truth behind this post?
When India TV investigated this claim, it was found that the RBI had issued such Rs 500 notes in 2016. The RBI issued a press release on December 16, 2016, available on its website. It stated that the RBI would soon issue Rs 500 banknotes in the Mahatma Gandhi (New) series. These notes would have an inset letter 'E' on both number panels. Some notes would also have a ‘*’ (star) mark in the number panel. This was the first time Rs 500 banknotes with a star mark were being issued. Notes with a star mark in the 10, 20, 50, and 100 series were already in circulation. These notes issued on November 8, 2016, would be legal tender. It should be noted that the press release was signed by the then RBI Governor Dr. Urjit R. Patel.
What is the conclusion?
The Press Information Bureau (PIB) had debunked this claim as fake on December 7, 2023. Sharing a picture of a Rs 500 note with a star mark, PIB stated that Rs 500 notes with a star symbol are not fake. The viral claim on social media is entirely false. In conclusion, India TV's investigation found that the post being shared on social media is completely false and bogus.
