The emergence of banknotes adorned with a Star (*) symbol has become a topic of conversation across various social media platforms. To address any confusion, the Reserve Bank of India (RBI) has released an official statement affirming the legitimacy and purpose of these unique banknotes, known as the “Star Series.”
The Star Series banknotes represent a distinct category of legal tender issued by the RBI, specifically designed to serve as replacements for any defectively printed banknotes found within a packet of 100 serially numbered banknotes. Functionally, these replacement banknotes are entirely equivalent to regular legal tender, encompassing the same appearance, security features, and monetary value. The sole discernible variance lies in the number panel, where a Star (*) symbol is positioned between the prefix and the serial number, effectively identifying the note as a replacement or reprint.
This practice of using the Star symbol for replacement banknotes was instituted after August 2006, wherein fresh banknotes previously had unique serial numbers and prefixes composed of numerals and letters. Packets containing 100 of these serially numbered banknotes were commonly issued.
Under the governing provisions of Section 25 of the RBI Act, the design, form, and material of banknotes in India are subject to regulation. The Central Government bears the responsibility of determining the banknotes’ design elements, while the Central Board of RBI, serving as the apex decision-making body of the bank, plays a crucial role in making recommendations concerning the design, security features, and other pertinent aspects of the banknotes. Subsequently, after considering the recommendations from the Central Board, the Central Government approves the final design, form, and material, ensuring compliance with essential security standards while reflecting the country’s aesthetic and cultural elements.