Know how to identify fake Rs 2,000 notes before depositing them in banks
To check for counterfeiting, see if your Rs 2,000 notes have these features before depositing them in banks
The total value of Rs 2,000 notes in circulation has declined to 10.8 percent of the total as on March 31, 2023, according to the data shared by the Reserve Bank of India (RBI). File Photo.
In a landmark decision last week, the Reserve Bank of India announced the withdrawal all the Rs 2,000 currency notes from circulation. The central bank gave a deadline of 30 September 2023 to either deposit or exchange the notes at banks. However, unlike the 2016 demonetisation move, the central bank has said that the notes will remain legal tender until the given deadline. Explaining the reason behind its decision, RBI said that the Rs 2,000 denomination bank notes, which were introduced for a limited period, were rarely in circulation and the bank had already stopped printing the notes in 2018-19. The RBI added that considering the adequate stock of banknotes in other denominations, Rs 2,000 notes can be withdrawn with immediate effect.
In adherence to the RBI’s announcement, customers have already started lining up to deposit the notes in their respective banks. However, a few things need to be kept in mind, including the note deposit limit and the identification of fake notes.
Rs 2,000 denomination note deposit limit
As stated by the RBI, customers can deposit notes of Rs 2,000 denomination in the usual manner and without restrictions. On the other hand, the banks holding currency chests will also look into the withdrawal and depositing of the notes and will reconfigure their ATMs and Cash Recyclers. Throughout this process, the notes will have to be meticulously detected, reported, and monitored to check for incidents of counterfeiting. Notes received both over the counter and directly at the back office/currency chests will be examined through machines. Upon detection, the fake currency notes will be stamped as “COUNTERFEIT NOTE” and impounded in the prescribed format by the RBI.
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Steps to check for counterfeit notes:
Before knowing the steps for identifying fake currency notes, a few things must be kept in mind to check in real notes. While the denomination includes a motif of the Mangalyaan on the reverse, it is distinguished by the magenta base colour. The note also has features like geometric patterns, aligning with the overall colour scheme, both on the reverse and the obverse. The size of the note is 66mm x 166mm.
Things to find on real Rs 2,000 currency notes:
1. Check for the see-through register with the denominational numeral 2000 on the note.
2. Check for the latent image with the denominational numeral 2000.
3. Locate the denominational numeral २००० in Devanagari on the observe side of the note.
4. The portrait of Mahatma Gandhi at the centre of note’s front side.
5. Colour shift windowed security thread with inscriptions of “RBI”, “भारत”, and “2000.” The colour of the thread changes from green to blue when the Rs 2,000 note is tilted.
6. The micro letters ‘भारत’ and ‘India’.
7. Find the Guarantee Clause, Governor’s signature with Promise Clause, and RBI Emblem towards the right of Mahatma Gandhi’s portrait.
8. Check to see the denominational numeral with Rupee Symbol, (₹2000) in colour-changing ink (green to blue) on the bottom right.
9. Check the number panel with numerals in ascending font on the bottom right side and the top left side.
10. Check Mahatma Gandhi’s portrait and electrotype (2000) watermarks.
11. Locate the Ashoka Pillar emblem on the right.
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