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| RBI TO ISSUE STAR SERIES BANK NOTES | | | JAMMU, October 04,2006.
The Reserve Bank of India will soon issue Star series banknotes. To begin with these will be issued in Rs.10, Rs.20 and Rs.50 denomination in the Mahatma Gandhi Series-2005.
The Star series bank notes will look exactly like the existing banknotes of Rs.10, Rs.20, and Rs.50 but will have an additional character ,viz, *(star) in the number panel between the prefix and the serial number. Consequently, some fresh bank note packets issued by the Reserve Bank 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 bank notes in the packets. Reserve Bank of India has clarified that the Star series bank notes will be legal tender and members of public may freely accept and use these banknotes.
The fresh bank note packets issued by the Reserve Bank of India at present are serially numbered from 1 to 100. Each bank note bears a distinctive serial number along-with a prefix. Currently defectively printed bank notes in any packet are replaced at the note printing presses with a good note bearing the same number as the one with defect in order to maintain the sequential numbering of bank notes in the packet.
As part of the ongoing efforts to benchmark its procedures to international best practice, as also, for cost effectiveness and greater operational efficiency at note printing presses, the Reserve Bank has adopted the Star series numbering system for replacement of defectively printed bank notes.
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