Karachi (Staff Report): The State Bank of Pakistan declared Rs500 banknotes without Optical Variable Ink (OVI) flag legitimate, dispelling the doubts regarding the authenticity of such notes.
Some social media reports triggered doubts about the authenticity of these banknotes.
However, the central bank dispelled these doubts among masses stating that from 2006 to 2009, Rs500 notes were issued without the OVI flag feature.
State Bank said introduced new design banknotes of Rs 500 in 2006 that carried 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 Optical Variable Ink (OVI) was added to enhance the anti-counterfeiting resilience and ease in identification by the general public.
SBP said in a press statement, "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."
This, however, resulted in availability of both types of Rs 500 banknotes, the statement added.
The SBP further said, "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."