In recent days maybe you have noticed some variations in the Rs. 500 note you are using for your day to day transactions. Maybe you have noticed one Rs. 500 currency note has Pakistani flag or OVI flag, and another one with same design and security feature is under circulation without OVI flag. But don’t worry at all, State Bank of Pakistan has made it clear that both notes are genuine and are acceptable as legal tender.
The new design of Rs. SBP introduced 500 in 2006. This newly designed note is different from the former one because of containing different size, design, color and extra security features. The newly added feature in the Rs. 500 is OVI flag. However, recently some users have witnessed that most of the notes of 500 values don’t contain OVI flag. But from the official website of SBP, it can be seen that both notes are presented with same security features.
SBP in the recent press release had made it clear that both currency notes are acceptable but subject to containing same security features as mentioned by SBP in its Public Awareness and Warnings campaign Rupee ko Pehchano information.
Press Release by External Relations Department of SBP
State Bank Clarifies Authenticity of Rs 500 Banknotes without OVI
Apropos the news circulating in some sections of social media regarding the 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. 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 Optical Variable Ink (OVI) was added to enhance the anti-counterfeiting resilience and ease in identification by the general public. It, however, resulted in the availability of both types of Rs 500 banknotes viz issued during 2006-2009 without OVI and issued w.e.f January 25, 2010, with OVI feature.
It is, therefore, clarified for the benefit of all concerned that new design banknotes of Rs 500, with and without OVI flag, are genuine provided all other security features are intact. The general public is encouraged to learn more about the security features in Pakistani banknotes through the section in SBP website titled “Rupay ko Pehchano” (http://www.sbp.org.pk/finance/NotePehchano/index.asp). SBP also expects that general public may discard any such news appearing in social media and discourage the circulation of this unauthenticated news.