SBP clarifies authenticity of Rs500 notes

KARACHI: The State Bank of Pakistan has clarified the authenticity of Rs 500 Banknotes without OVI.

The news circulating in some sections of social media regarding authenticity of Rs 500 banknotes without OVI flag, it may be recalled that the State Bank had introduced new design banknotes of Rs 500 in 2006′, said a statement issued here on Monday.

Later on another security feature, the color shifting flag made of Optical Variable Ink (OVI) was added to enhance the anti-counterfeiting resilience and ease in identification by the general public, the SBP statement added.

However, resulted in availability of both types of Rs 500 banknotes issued during 2006-2009 without OVI, and the SBP said that it had added the OVI flag feature to already existing security features on the notes from January 25, 2010.

Therefore, it is clarified that new design banknotes of Rs 500, with and without OVI flag, are genuine provided all other security features are intact.

However, resulted in availability of both types of Rs 500 banknotes, the statement added.