In accordance with a leading business daily report, bank officials have alerted their staff to be extra cautious while verifying received notes. As it is there have been reported increased instances of fake currency notes in the country, particularly Rs. 500 currency note, as per the report.
Central Bank of India's senior bank official is quoted in the report as saying, "While counterfeits are not totally new, their numbers appear to be on a rise". And this is a cause of grave concern for both the general public as well as banking officials.
Further providing confirmation to the menace of counterfeit currency, an official from a PSU bank said that fake Rs. 500 currency note with the wrong spelling of RBI i.e. 'Resurve Bank of India' on the left side of the obverse is found to be in circulation.