On 8th November 2016, the Government of India banned old Rs 500 and Rs 1,000 notes and replaced them with new Rs 500 and Rs 2,000 notes. One of the reasons for demonetizing old currency notes was to curb the circulation of fake or counterfeit notes in the country. But, demonetization did not really solve this problem. There is still the circulation of fake rupee notes in India.
We still get to read a lot of news on police busting fake note printing gangs, people getting fake notes while withdrawing money from an ATM and so on. According to the report, in the year 2018, 5,22,783 pieces of fake notes were detected in the banking system.
People usually get fake notes from shops, vendors or while withdrawing cash from the ATM. There are times when you have currency in your hands and you are confused, if its real or fake. If you have doubts regarding the authenticity of the currency, do not circulate this currency. Circulating fake notes just to get rid of them, may land you in trouble and you can even go to jail.
So, if you have rupee notes in your hands and have doubts regarding the authenticity, check before circulating this currency.
Don't worry, there is an app called Chkfake which helps check if the currency is fake or not. This app helps identify fake Rs 100, Rs 200, Rs 500, Rs 2000, and other currency notes. Not just Indian currency, this app also supports currencies of other countries.
Identifying fake currency notes on Chkfake app is very easy. First, you must download the app from Play Store.
Once the app is downloaded to your mobile, you can do the registration. Registration is not mandatory.
After registration, search for the denomination of the currency note you want to check and make a confirmation.
You can start verifying the note, the moment you open it in the app. You have to follow the text and visual instructions to find and verify different security features on the product.
You will be given questions with a YES or NO. You have to provide your answer.
Once you provide all the answers, the app will tell if the notes you are verifying are fake or not.
If you are checking Indian currency, the questions asked are on the basis of guidelines available on RBI’s website to help identify fake notes.
What to Do if the Currency is Fake?
If the currency note which you verified is fake, do not circulate just to get rid of it. All you have to do is inform the nearest police station on the fake notes.
You can submit them to the bank. The bank will stamp COUNTERFEIT BANKNOTE IMPOUNDED and these notes will be sent to RBI for destruction.
Read More: App Which Helps To Check Fake Notes
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