Mumbai :  The Reserve Bank of India (RBI) on Thursday clarified that banknotes with a Star (*) symbol present on the number panel are legal.

The central bank issued this statement addressing concerns surrounding the legitimacy of banknotes with a Star (*) symbol present on the number panel circulating on various social media platforms.

The symbol is incorporated in the number panel of a banknote when it is used as a replacement for defectively printed banknotes within a packet of 100 serially numbered banknotes, said the RBI in its clarification.

“In this connection, it is informed that the Star (*) symbol is inserted in the number panel of a banknote that is used as a replacement for defectively printed banknotes in a packet of 100 pieces of serially numbered banknotes,” RBI said.

“A banknote with a Star () symbol is identical to any other legal banknote, except that in the number panel a Star () symbol is added between the prefix and the serial number,” the central bank added.

Before August 2006, fresh banknotes issued by the RBI were serially numbered, each with a distinctive serial number and prefix consisting of numerals and letters. These banknotes were issued in packets containing 100 pieces.

The “Star series” numbering system was introduced by the RBI specifically for the replacement of defectively printed banknotes within a packet of 100 serially numbered banknotes.

The Star series banknotes are identical to regular banknotes in all aspects, except for the additional character – a *(star) – in the number panel, placed between the prefix.

Simply put, these banknotes are valid legal tender and should not be a cause for concern among the people.

They are merely replacements for defective banknotes and hold the same value and acceptance as other banknotes in circulation.