RBI said that the bank note with the star symbol is as legal as the bank note without the star symbol. RBI said that the star symbol is added between the prefix and serial number of the bank note. A banknote with a star symbol identifies that this note has been changed or reprinted after the note has melted or deteriorated by adding the star symbol with the same number and prefix.

RBI has issued this clarification after discussions in social media about the validity of bank notes with star symbol. RBI said that the star symbol is included in the number panel of bank notes. These are the notes which are printed in exchange for the spoiled notes. These notes with the star symbol are printed in 100 pieces with serial numbers.

Reserve Bank of India clarifies on Star Series Banknoteshttps://t.co/BFBYLbH8Ao

— ReserveBankOfIndia (@RBI) July 27, 2023

RBI said in its FAQ that till 2006 the notes printed by RBI used to be in serial numbers. All these notes used to be prefixed with numbers and letters along with the serial number. This note is issued in a packet of 100 pieces. Star series system was adopted for reprinting of damaged notes. Star series notes are as legally valid as normal currency notes. There is also a star symbol between the prefix and the number in its number panel.

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Now the Reserve Bank of India (RBI) has taken a big decision regarding another bank. RBI has fixed the limit for withdrawing money from Co-operative Bank i.e. if you have an account with this bank then you can withdraw only Rs.

Decision taken considering the financial situation

Let us tell you that the Reserve Bank has taken this decision regarding the National Co-operative Bank located in Bengaluru. RBI has taken this decision keeping in view the financial condition of the bank. The National Co-operative Bank has 13 branches in Bengaluru, the capital of Karnataka.

Cannot issue new loans, along with this the bank cannot issue any new loan nor will it accept fresh deposits without the permission of the central bank. RBI has imposed business restrictions on the National Co-operative Bank for a period of 6 months from the close of business on 24 July 2023.

Can claim 5 lakhs

According to the information received from the Reserve Bank, the depositors of the bank can claim 5 lakh rupees in ‘Deposit Insurance and Credit Guarantee Corporation’ (Deposit Insurance and Credit Guarantee Corporation) under deposit insurance.

There may be a change in the decision

Apart from this, according to the circumstances, the Reserve Bank can change its decision. Along with this, can consider this decision. In May, this bank was fined citing violation of some rules. The Reserve Bank has said that the lender was charging fixed penal charges for shortfall in the minimum balance in the savings bank account instead of proportionate to the limit. Due to this, RBI had taken the action of penalty.

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