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The E-Sylum:  Volume 9, Number 36, September 3, 2006, Article 21

INDIA TO ISSUE STAR BANKNOTES

According to an article published this week, "The Reserve Bank of
India will soon issue Star series banknotes... The star series
banknotes will look exactly like the existing bank notes 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."

"The star series banknotes will be legal tender and members of
public may freely accept and use these banknotes. The fresh banknote
packets issued by the RBI at present are serially numbered from 1 to 100.

Each banknote bears a distinctive serial number along with a prefix.
Currently defectively printed banknotes 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
banknotes in the packet. This procedure involves additional time/cost
and manual intervention.

As part of the ongoing efforts to benchmark its procedures to global
best practices, as also, for cost effectiveness and operational
efficient at note printing presses, the RBI has adopted the Star
series numbering system for replacement of defectively printed
banknotes."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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