GUWAHATI: The Ministry of Home Affairs (MHA) has sounded a nationwide alert after receiving intelligence about the circulation of high-quality counterfeit ₹500 currency notes. Financial regulators, enforcement agencies, and banks have been warned to be on heightened alert, according to reports.
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The reports quoting officials said, while the counterfeit notes closely resemble genuine currency in appearance and texture, a minor spelling error serves as a key identifier.
The fake notes reportedly carry the phrase “RESARVE BANK OF INDIA” instead of the correct “RESERVE BANK OF INDIA,” with the letter ‘E’ replaced by ‘A’ in “RESERVE.”
Describing the warning as “high importance,” the MHA has communicated the alert to several key institutions, including the Directorate of Revenue Intelligence (DRI), Financial Intelligence Unit (FIU), Central Bureau of Investigation (CBI), National Investigation Agency (NIA), Securities and Exchange Board of India (SEBI), and various public and private banks.
“The typo is very subtle and can be easily missed,” an official noted, urging institutions that handle cash to exercise extra caution. A sample image of the suspected fake note has also been shared to help identify the forgery.
The public has been urged to remain vigilant and immediately report any suspicious currency to the authorities.
When asked about the scale of the problem, a senior official explained that it's difficult to quantify the number of fake notes currently in circulation. “The actual volume is likely far greater than reported, as data largely depends on notes submitted to banks by the public,” he said.