The circulation of counterfeit currency is on the rise in the country and it is an issue of serious concern. It is affecting the economy very badly and the rate of inflation keeps spiking. The modern counting machines in the banks are capable of catching fake currency but a common man cannot identify the same in the same manner hence this article will help you to identify the fake currency of rupees 500 and other denominations.
The report suggests that there is a huge spike in fake currency whopping 101.9 and 54.6 per cent in the denominations of Rs 10, Rs 20, Rs 200, Rs 500 (new design) and Rs 2,000 respectively.
How to Identify the Fake Currency?
The basic features of a rupees 500 note can be described as a stone grey-coloured note of 63 mm by 150 mm in dimension. The Red Fort is shown at the back of the note, with a photograph of Mahatma Gandhi in the centre. The tricolour shown on the Red Fort on the note’s reverse is in its original colour, which is important to observe.
Here are Some Recurring Patterns in Counterfeit Currency Fraud
It has the denomination value of “RBI” and “500” written in micro letters and colour-changing ink (green to blue, when tilted) at the bottom right side of the note, whereas in a dummy, it would be missing or illegible.
A 3mm security thread is embedded in the note, which appears as a continuous line when held against the light but in fake it might be missing or not visible.
This kind of printing gives the raised texture to the portrait of Mahatma Gandhi, the Reserve Bank of India (RBI) emblem, and the denominational numeral with the micro text “500” on the right along with five angular bleed lines of both the left and right sides. Some counterfeiters may try to mimic the intaglio printing of genuine notes by using raised printing techniques, but this can often be detected by touch.
The note has a see-through register, which has a vertical stripe with the denominational numeral value 500, but in a forged one, may not be visible or may appear broken, and is visible when held against light in the real one.
The note has a portrait of Mahatma Gandhi in the centre and an electrotype (500) and the Mahatma Gandhi watermark when held against the light might be missing or altered in the counterfeit notes.
It is important to note that counterfeiters are constantly trying to replicate the security features of a genuine currency, so it is important to always be cautious and check the authenticity of the banknotes before accepting them.