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Know the advantages of serial numbers in currency notes
Let`s understand the meaning behind the currency serial numbers.
Zee Media Bureau
New Delhi: For common understanding if one asks what is a currency note, the answer would be simple – it is an exchange value which people use for transactions.
There are several ways to check the authenticity of a currency note. But have you wondered what does the serial number in currency notes denote?
Let's understand the meaning behind the currency serial numbers.
- All the currency notes come with a specific alpha-numerical series. The colour of this serial number is usually red.
- The presence or absence of a serial number or other specific feature is not a determining factor when assessing damaged banknotes for value.
- It comprises of three things: Prefix, Inset and Serial Number Syntax. The first three letters are prefix, the remaining are serial number while if you look carefully there is something like a watermark within the serial number panel —that is Inset.
- The serial number in a note helps the Reserve Bank of India (RBI) identify the exact number of notes available in the market currently. It also works as a currency tracker for the RBI.
- Issuing banknotes with specific numbers may not be possible.
- Fresh banknotes issued by Reserve Bank of India till August 2006 were serially numbered.
- Each of these banknote bears a distinctive serial number along with a prefix consisting of numerals and letter/s.
- The banknotes are issued in packets containing 100 pieces.
- The Bank has also adopted the "STAR series" numbering system for replacement of defectively printed banknotes.
- The Star series banknotes are exactly similar to the existing Mahatma Gandhi Series banknotes, but have an additional character viz., a *(star) in the number panel in the space between the prefix and the number.