Watch out for counterfeit 500 rupee notes.

#1 Mar 10th, 2010, 19:41
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A warning to others. I exchanged some pounds sterling for rupees in Bundi recently. There are no official money changers but I used the shop recommended by the hotel. A few days after I left Bundi one of the 500 rupee notes was refused. The Hotel which refused it showed me that, although it had the Ghandi watermark, there should also by the figure 500 in the watermark alomgside Ghandi's head. There was no such figure on my note. I now check the watermarks whenever I change money.
#2 Mar 10th, 2010, 20:01
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I've received fake notes of this kind from ATM machines, several times.
#3 Mar 10th, 2010, 20:17
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So it was not a rumour after all!

I'd tried sounding a warning in this regard some time back. But it was pooh-pooh-ed as being just a 'rumour' (see link below). The Indian government takes it seriously enough to publish periodic warnings in newspapers. Large posters are also pasted in this regard in numerous post offices and other places.

Please read the relevant discussion here (several posts):

http://www.indiamike.com/india/money...99/#post881138
#4 Mar 10th, 2010, 21:31
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#5 Mar 11th, 2010, 00:07
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The Indian government takes it seriously enough to publish periodic warnings in newspapers.
What's more, we see newspaper coverage of forged notes discovered too. Certainly it is for real.

Isn't this a crime that goes on in most countries?
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#6 Mar 11th, 2010, 00:50
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Dunno, but we got a boatload of counterfeit US dollar notes in Colombia and Panama at one time.

As far as the rupee counterfeiting is concerned, a lot of it comes from Pakistan- to fund the usual suspects, besides other things.
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#7 Mar 11th, 2010, 01:21
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If they can pump enough of it in, it is supposed to be a great way to destabilize a country (well, faith in one's own currency is pretty basic to security).
#8 Mar 11th, 2010, 01:28
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Quote:
Originally Posted by Normski3 View Post although it had the Ghandi watermark, there should also by the figure 500 in the watermark alomgside Ghandi's head.
Also, such a misspelling of his name is a dead giveaway that the bill is forged.
#9 Mar 11th, 2010, 01:42
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Quote:
If they can pump enough of it in, it is supposed to be a great way to destabilize a country (well, faith in one's own currency is pretty basic to security).
Ah, Lenin..

Quote:
Also, such a misspelling of his name is a dead giveaway
Ho, ho..
#10 Mar 11th, 2010, 02:05
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Originally Posted by RPG View Post Also, such a misspelling of his name is a dead giveaway that the bill is forged.


... but I as well, because I often make this very mistake, despite living in one of the many roads in India that bear the great man's name
#11 Mar 21st, 2010, 08:57
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Quote:
Originally Posted by suricate View Post I'd tried sounding a warning in this regard some time back. But it was pooh-pooh-ed as being just a 'rumour' (see link below).
As the one doing the poo-poo'ing, I'll state again that I had a lot of people studying my Rs. 500 notes just now, over the past two months -- but never had any trouble with it.

Matter of luck, perhaps. I'm not saying there'll be no counterfeit notes, and the OP just reported so. (And if there are, then yes, they might conceivably find their way back into ATM's, right.)

(What I did run into again a few times was what I thought had almost died out, namely people, and all around, refusing a -- arguably quite heavily -- tattered bill. I managed to slip them onto some particularly hasslesome vendors each time Failing that, it'd be the old lining up at the bank to get them exchanged for a new note I guess -- not the happiest of prospects for just Rs. 10-50.

But so maybe be a little wary still of accepting such notes in the first place. They easily get overlooked though.

Come to think of it, some notes in whatever denomination come in such a different print & hence color than the other batch that this does seem to cause suspicion with some. What it mostly translated to to me was you need to keep a good eye on is that a 10 or 50 or 100 or 500 note you're handling, they can look deceptively similar.)

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