Here’s a detailed tutorial from the Reserve Bank of India (RBI) on how to identify genuine rupee-denominated currency notes.
My observations:
- It’s not possible for the common person to identify a counterfeit note on first glance. How often have you stopped to verify the genuineness of the currency in your hands?
- Banks themselves have started using ultraviolet (UV) lamps to detect counterfeit notes. It’s interesting to see the teller closely examine each note you handover (when you deposit cash), but not do the same with the notes handed back to you (when you withdraw cash).
- How good an idea is it to keep in each bank branch a public UV lamp that customers can use to identify the genuineness of their currency?
What do you think?
Awareness Fridays is my initiative to spread awareness on topics relevant to personal finance — every Friday. I urge you to take some time off and absorb this information — it’s pretty useful. And, as always, do spread the word if you find this useful.
Further reading:
- Awareness Fridays: Guidelines for Exchanging Mutilated Currency Notes at Indian Banks
- Awareness Fridays: Guidelines on Detection and Impounding of Counterfeit Notes at Indian Banks
- Awareness Fridays: [Update] Guidelines on Detection and Impounding of Counterfeit Notes at Indian Banks
- Awareness Fridays: Interest Rates on Rupee Deposits
- Awareness Fridays: The National Electronic Funds Transfer (NEFT) System
{ 0 comments… add one now }