The best way to protect yourself from counterfeit notes is to be aware if the currency notes that you receive are genuine or not. Here are some basic guidelines to detect whether a currency note is real –
1. Security thread - A silver security thread goes through the breadth of the note. It has the words ‘Bharat’ and ‘RBI’ inscribed. The thread changes colour from green to blue when viewed from different angles. It is seen as a single line from the back of the note. In fake notes, this may be in gray or there is an aluminum thread.
2. See through Register - There is a floral pattern on the front and back of the note in the middle of the vertical band. It has the denomination written there. The numerals on both sides appear as one when held against light.
3. Watermark - A portrait of Mahatma Gandhi is hidden in the large blank space in the front left hand side of the note. The denomination can be seen when held against light with some multi-directional lines.
4. Intaglio print - The words ‘Reserve Bank of India’, the denomination written in words and the portrait of Mahatma Gandhi are printed in Intaglio print and can be felt by touch.
5. Latent Image - There is a vertical band on the right side of a bank note on which the denomination is printed but that can be seen only if the note is held at the eye level.
RBI has a website which has some interesting insight into detecting fake currency notes. You can visit the website by clicking here.
What should you do if you get a currency note?
The big issue is that there are numerous fake notes in circulation and you could get one from anywhere - be it from the taxi driver or from the ATM. If you think you have received one, take it to the nearest bank, where if it is confirmed that it is indeed a forged note, the note will be impounded as counterfeit and you will be given an acknowledgement receipt. If there is more than 1 fake note, the police will be notified about the same along with your details. You will not be given any compensation even if you are an innocent victim of the currency racket.
If you think of palming off the notes to someone else, to save yourself from trouble and financial loss, think hard as if it is found out that you were trying to give the fake money to someone intentionally, you will face criminal charges. The best way is to exercise caution by knowing how to identify fake note, so that one avoids getting them in the first place.
You have to make the basic checks on the currency notes when you get cash whatever be the source. If you do receive fake notes, do not try to pass it on to someone else but give it to the bank. #gettingyourich