Moreover, RBI has shared a PDF - 'RBI Kehta Hai - Know Your Banknotes' - to help consumers in spotting difference between genuine vs fake ₹500 notes of RBI.
Here is how to check if your ₹500 note is genuine or fake
In a document attached with the tweet, PIB said, "The ₹500 denomination banknotes in the Mahatma Gandhi (New) series bear signature of the Governor, Reserve Bank of India, The note has motif of "Red Fort" on the reverse, depicting the country's cultural heritage. The base colour of hte note is stone grey. The note has other design and geometric patterns aligning with the overall colour scheme, both at obverse and reverse."
Meanwhile, the Reserve Bank of India (RBI) has asked banks to test their note sorting machines for accuracy and consistency every quarter to ensure currency notes conform to the prescribed parameters. The RBI has set 11 standards for the condition of notes and therefore has instructed banks to use note fit sorting machines instead of note sorting machines.
In the circular on 'Note Sorting Machines - Authentication and Fitness Sorting Parameters', the RBI said a fit note is "a note that is genuine, sufficiently clean to allow its denomination to be readily ascertained and thus suitable for recycling".
An unfit note is one that is not suitable for recycling because of its physical condition or belongs to a series that has been phased out by the Reserve Bank of India.
