The Meaning and Usage of Asterisk in Indian Currency Notes
Indian currency notes often carry an asterisk symbol (#8220;*#8221;), which holds specific meanings and purposes. This symbol can indicate that the note is a specimen, denote a specific series of notes, or signify that the note is not intended for circulation. Understanding the significance of the asterisk is crucial for both educational and practical reasons.
Indicating Specimen or Sample Notes
One of the primary uses of the asterisk in Indian currency notes is to signify that the note is a specimen or a sample. Specimen notes are often used for educational purposes or in banks for training staff. These notes are not intended for circulation and are typically marked with an asterisk to ensure that they do not enter the general public domain.
Denoting a Specific Series or Batch of Currency Notes
In certain contexts, the asterisk may also be used to denote a specific series or batch of currency notes. This practice is particularly useful for tracking and managing large volumes of currency notes. Notably, if any defects are identified during the printing process, replacing these notes would be costly and time-consuming. Hence, the bank issues star series notes, which are pre-printed and kept in reserve for such occasions.
Signifying Replacement of Defective Notes
The asterisk is widely recognized as a symbol for replacing defective notes. Whenever a currency note is damaged, torn, or compromised in any way, the bank exchanges it for a new one. These defects are flagged and added to a record. These compromised notes are sent back to the Reserve Bank of India (RBI), where they are replaced with brand new, undamaged notes that are assigned the same serial number as the compromised ones.
To ensure that the sequence of the packet is maintained, the defective notes are replaced with star series notes. These star series notes carry an additional character, a star, within the serial number to indicate that they are replacements of the defectively printed banknotes. For instance, a serial number may look like 83M20* or 2DA12*.
Introduction of Star Series Notes
The Reserve Bank of India (RBI) introduced the star series notes in 2006 to enhance the efficiency of the currency printing process. On April 9, 2006, the RBI announced its decision to adopt the STAR series numbering system for defectively printed banknotes. This move was made with the aim of benchmarking its procedures against international best practices and to increase cost-effectiveness.
Initially, star series notes were introduced for denominations of Rs. 10, Rs. 20, and Rs. 50. These notes were identical in appearance to the existing Mahatma Gandhi series notes but included an additional star symbol in the number panel. Packets of star series notes contained 100 pieces but were not in serial order to prevent potential tampering. The star series notes are fully legal tender and can be freely accepted and used by the public.
Examples:
Rs. 10 / Inset S / Prefix 83M 2011 Rs. 20 / Inset R / Prefix 17B 2010 Rs. 50 / Inset R / Prefix 2DA 2011 Rs. 100 / Inset R / Prefix 4QN 2011Further, the RBI introduced the 100 rupee note with a star mark in 2009, aligning with the initial press release of 2006 for the lower denominations.
In conclusion, the asterisk (#8220;*#8221;) symbol in Indian currency notes serves multiple purposes, most notably for indicating specimen notes, denoting specific series or batches, and signifying the replacement of defective notes. Understanding these uses is essential for anyone dealing with Indian currency or studying its intricacies.