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RBI 500 fake or real RBI requesting tp bank test note every 3 months – Business News India


RBI on Rs 500 coin Note: At present each person has a banknote of 500 rupees. But the big question is whether or not this note is worth offering to the market. This is because after the cancellation of trading, many kinds of news about fake coins and notes appeared. In light of this, the Reserve Bank of India (RBI) has issued a statement regarding the Rs 500 bill.

What did the Reserve Bank of India say?
The Reserve Bank of India (RBI) has asked banks to test their banknote sorting machines for accuracy and stability every three months. Check whether the printed notes meet the specified criteria or not. RBI 11 set standards for correct state of observations. Also, banks were instructed to use note sorters instead of note sorters.

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What is the appropriate and inappropriate observation?
RBI stated in its circular that the appropriate note is an original and clean note so that its value can be easily verified and is suitable for recycling. An inappropriate note is the one that is not suitable for recycling due to its physical condition. There are several series of invalid notes which have been phased out by the Reserve Bank of India.

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RBI Instructions for Banks
RBI directed banks that note processing machines/note sorters should check for authenticity from time to time. Any note that does not have all the characteristics of the original note will be categorized as questionable/disapproved by the device. Further, as per the circular, the banks are required to send the currency notes fitness report to the Reserve Bank of India every three months. Banks will have to report to the RBI how many notes are found to be unsuitable and notes that can be reissued after proper maintenance.

 

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