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Mahatma Gandhi’s portrait is displayed prominently in the centre in an original note.
Counterfeit notes can be difficult to detect.
The circulation of fake Rs 500 notes has increased significantly, raising concerns among citizens. According to a report by the Finance Ministry, there has been a 317 percent rise in counterfeit Rs 500 notes over the last five years. Data presented in Parliament revealed that fake Rs 500 notes increased from 21,865 million pieces in FY 2018-19 to 91,110 million pieces in FY 2022-23. A 15 percent decline was recorded in FY 2023-24, bringing the count to 85,711 million pieces.
The steepest annual rise occurred in FY 2021-22, where counterfeit Rs 500 notes doubled from 39,453 million pieces in FY 2020-21 to 79,669 million pieces — an increase of 102 percent. Similarly, fake Rs 2000 notes surged by 166 per cent in FY 2023-24, increasing from 9,806 million pieces in FY 2021-23 to 26,035 million pieces.
Despite these spikes, the government reports a 30 percent overall decline in counterfeit currency across all denominations. The number of fake notes decreased from 3,17,384 in FY 2018-19 to 2,22,639 in FY 2023-24.
Identifying Fake Rs 500 Notes
Counterfeit notes can be difficult to detect, but the Reserve Bank of India (RBI) has outlined key features to help identify genuine Rs 500 notes:
– Size:
The original note’s size is 66 mm x 150 mm.
– Denomination:
‘500’ is printed in Devanagari script.
– Portrait:
Mahatma Gandhi’s portrait is displayed prominently in the centre.
– Micro Letters:
The words Bharat and INDIA are written in micro letters.
– Security Thread:
A colour-shifting security thread changes from green to blue when tilted.
– Watermark:
A watermark of Gandhi’s portrait and the electrotype ‘500’ appears when held against light.
– Colour-Changing Ink:
The Rs 500 symbols at the bottom right change colour from green to blue when tilted.
– Ashoka Pillar:
The Ashoka Pillar emblem is present on the right.
– Swachh Bharat Logo:
The Swachh Bharat logo and slogan are printed on the note.
It’s crucial to stay vigilant and verify notes carefully. Citizens can report suspicious notes to the authorities to help combat the circulation of counterfeit currency.
