CARRYING RS. 100 NOTES? A HIGHER CHANCE OF THEM BEING FAKE.
Contrary to the assumption that businesses and retailers face the wrath of fakes notes of a higher denomination, it’s the everyman who needs to safeguard himself from the evils of counterfeit. A Rs. 100 note is perhaps the most common currency for exchange of goods in our day-to-day lives. From buying the next meal at your local mess or filling fuel in your vehicle, practically every transaction involves a Rs. 100 note. All the more reason then, that you are assured of its authenticity.
Nearly half the fake notes are of Rs. 100.
As per the annual report 2017–18 of the Reserve Bank of India (RBI), 45.75% of the fake notes recovered in the same span were of the denomination of Rs. 100. Though the number of counterfeit notes of the redesigned Rs. 500 and Rs. 2000 increased nearly 50 times and 28 times respectively compared to previous fiscal year, they still constituted to only 29% of the total pieces of counterfeit notes.
Protect your pocket!
These numbers merit a closer observation of what we carry in our wallet. From unreliable transactions to, at times, even the reliable ATM, FICNs (fake Indian currency notes) don’t have a hard time in reaching the common man’s hand.
Offences involving high-value FICN (fake Indian currency notes) are classified as terror acts. While unknowingly possessing a FICN is not a punishable offence in our country, it still has some repercussions. For one, the note is completely useless — this means, if you find out that the note is fake, you have to face the brunt of the monetary loss. For another, if unknowingly caught, there is the hassle of proving that there was no knowledge of the counterfeit and any intent to distribute.
The only way out of it is to be vigilant about what enters your pocket.
Knowledge v/s Technology
The general public uses the traditional way of identifying counterfeits by looking at the most basic security features. There is no dearth of information out there about the security features of all currencies — new and old. Yet, is it really an effective way to check for these features in every transaction? The problem will only become harder to tackle when new currency notes — like the new Rs. 100 note — will be introduced in the market.
It’s better to then rely on a technological solution like a fake currency detector.
Fake note detectors are not unheard of in the Indian economy. Bankers and large retailers use heavy-duty counterfeit money detectors all the time. But these are not easily available or affordable to individuals. Until now.
Empower by Kores is a portable fake currency detector that identifies whether a note is real or not within the blink of an eye. The technology is one of a kind and integrates a one-push operation that makes it easy to use. As opposed to the other currency detectors out there, it guarantees 100% results all the time.
So, get Kores Empower and protect your transactions with this simple solution that counters the counterfeit.
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