Banks will not accept if anything is written on the notes - Fake

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RBI Notification - Fake

Demonetization effect – Below messages are circulated on social media with regards to new notes -

Message 1:

As per New Guidelines of Reserve Bank Of India, Writing any thing on new notes makes the note invalid & it will no more be a legal tender.

Just like US Dollars . If you writeanything on US dollars it is not acceptedby any one .

Just forward to maximum people, so that the Indian public understands the importance of this message.

 

Message 2:

NEW ANNOUNCEMENT FROM RBI AND GOVERNMENT:

*NO NEW NOTE OF RUPEES 500 AND 2000 WILL BE ACCEPTED BY ANY BANK IF ANY THING IS WRITTEN OR PEN MARKED ON IT OR EVEN IF IT IS STAMPED WITH ANY KIND OF LOGO*. 
BE CAREFUL AND PLEASE CHECK THE NOTES YOU GET FROM ANUONE EVEN FOR BUSINESS TRANSACTIONS OR IN GENERAL. IF ANY WRITINGS THEN DO NOT ACCEPT.

 

Message 3:

RBI in it’s latest circular RBI/2016-2017/123 DCM (Plg) No.1251/10.27.00/2016-17 has advised general public not to accept new currency note which has any text or sketch drawn on it.
This notification is as part of master circular published on 10th-Nov on withdrawal of Legal Tender of  ₹500/- and ₹1000/- Bank Notes.

In a separate press release RBI governor Mr Urjit Patel has clarified that as part of Government’s initiate to curb the use of black money, new notes of ₹ 500/- and ₹ 2000/- are printed with latest cutting edge technology which cannot be counterfeited and from Jan-2017 will be deposited and dispensed using new electronic machines across all banks in India. These German machines are imported as part of Modi’s digital India programme and will not be able to accept notes which have any text or sketch drawn on it. Reason for the same is in foreign countries, *p*eople do not write anything on the notes and hence their software are not designed to read anything apart from what’s printed on the note.

Pls forward this information to all your friends and *r*elatives (especially aged ones) to be extra careful while *a*ccepting these new notes to ensure that they do not accept currency notes which *h*ave anything written over it. *A*s such currency notes will no longer be accepted by banks or *R*BI.

Our Analysis – The above news states that if anything is written on currency notes then it would not be accepted by RBI (Reserve Bank of India). These messages basically started circulating after the demonetization move by PM Narendra Modi. The central government or even the RBI has never issued any such message. In contrast to this, RBI has issued below message in its Press Release:

https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=35717

https://www.rbi.org.in/Scripts/NotificationUser.aspx

https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10687&Mode=0
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10686&Mode=0
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10685&Mode=0

 

RBI denies Message on Currency Notes circulating on Social Media

The Reserve Bank of India has today denied having issued a communication circulating on social media alerting members of public that banks will not accept currency notes with scribbling on them from January 1, 2016.

The Reserve Bank has reiterated that all currency notes issued by it are legal tender and banks and members can freely and without fear accept them in exchange for goods and services.

 

With regards to USA, even if you write something on US notes it’s still valid. In USA people generally do not write on notes and the green dollars looks more effective with that. Even if the notes are 50 % destroyed the banks are ready to take and exchange it there.

ConclusionRupiya keeps on circulating from one hand to another and we cannot estimate how much distance it travels in its lifetime. So, we all should follow best practices by not writing anything on notes as it looks better and clean. People have tendency of writing on notes (Sonam Gupta was made popular using notes only). Its humble request to all citizens that do not write anything on notes. Till now RBI has not issued any notification of cancelling the legal tender for written notes, but that day is not far when Government of India will have to take such steps.



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