A fake post is going viral on social media claiming that users shouldn’t use a Rs 500 currency note with a green stripe near the picture of Mahatma Gandhi instead of being near the signature of the RBI governor. This fake and misleading news has led to confusion among many. According to the claim, the Rs 500 note with the green stripe near the picture of Mahatma Gandhi is void.
According to a fact check by Press Information Bureau (PIB), the claim is completely false and baseless. The Reserve Bank of India (RBI) confirms that both types of Rs 500 banknotes are valid. Both types of Rs 500 notes, regardless of where the green strip appears, are valid.
In November 2016 the government introduced a new series of Mahatma Gandhi notes of Rs 500 denomination to replace the old notes. Color, theme, security features, and design elements of the new notes differ from those of earlier versions. The new notes measure 66mm x 150mm in size.
Claim: A note with a green stripe that is not near the RBI Governor’s signature but near the picture of Mahatma Gandhi should not be taken.
The conclusion: The claim is false. In accordance with the RBI, both types of notes are valid. Currently the RBI issues notes in denominations of Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2,000. Besides 50 paise, there are coins in the denominations of 1, 2, 5, 10, and 20 rupees.