The Hindu : Business : RBI to release Star series notes

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Friday, Sep 29, 2006
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RBI to release Star series notes

Staff Reporter

THIRUVANANTHAPURAM: The Reserve Bank of India will soon issue the Star series of banknotes. They will be similar to the existing banknotes but would have an additional character, viz., *(Star) in the number panel between the prefix and the serial number. Consequently, some fresh banknote packets issued by the RBI may contain some notes having a *(star) in the number panel in the space between the prefix and the number. The bands of the packets containing the star series number will clearly indicate the presence of such notes in the packets. Fresh note packets with star series notes will, as usual, have 100 pieces with the Star series placed at the bottom of the packet. The star series banknotes will be legal tender and members of public may freely accept and use these banknotes.

The fresh banknote packets issued by the RBI at present are serially numbered from 1 to 100. Each banknote bears a distinctive serial number along with a prefix. At present, defectively printed banknotes in any packet are replaced at the note printing presses with a good note bearing the same number in order to maintain the sequential numbering of banknotes in the packet. This procedure involves additional time/cost and manual intervention.

As part of on-going efforts to benchmark its procedures to international best practices, as also for cost-effectiveness and greater operational efficiency at note printing presses, the RBI has adopted the star series numbering system for replacement of defectively printed banknotes.

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