SBP clarifies authenticity of Rs500 banknotes without OVI feature

KARACHI: The State Bank of Pakistan (SBP) has clarified that Rs500 notes with and without Optical Variable Ink (OVI) flag both are authentic.

The clarification came against the rumors circulating on social media regarding authenticity of Rs500 banknotes.

It may be recalled that the SBP had introduced new design banknotes of Rs 500 in 2006. These banknotes carry state of the art security features, besides, change in size, design and color scheme.

Later on another security feature, the color shifting flag made of OVI was added to enhance the anti-counterfeiting resilience and ease in identification by the general public, an SBP press release stated adding that this, however, resulted in availability of both types of Rs500 banknotes, issued during 2006-2009 without OVI, and issued w.e.f January 25, 2010 with OVI feature.

“It is, therefore, clarified for benefit of all concerned that new design banknotes of Rs500, with and without OVI flag, are genuine provided all other security features are intact,” the statement said.

Three main security features of the banknote are:

• Enlarged Watermark: Portrait of Quaid-e-Azam in National Dress i.e. Sherwani appears at the obverse left of the note.

• Electrotype Watermark: The denomination of the note appears below the portrait of Quaid-e-Azam.

• Window Security Thread: Partially embedded window security thread into the paper runs from top to bottom at the front left side of the note. Denomination numeral ‘500’ can be seen in the thread. The thread appears as silver dashes at the front of the note. When the note is held against the transmitted light, the metallic thread appears as a dark line. The security thread appears as yellow and pinkish red fluorescent bands when viewed under ultra-violet light.

The other features can be seen in the pictures given below.