Friday, November 28, 2014

High Level committee to examine the security features of Indian banknotes

Incorporating new security features/new designs in the banknotes to stay ahead of the counterfeiters in an ongoing process. This is undertaken by the Government of India in consultation with the Reserve Bank of India (RBI) and other concerned Ministries/Departments/Organizations.

A High Level Committee under the chairmanship of Director General, Directorate of Currency, Ministry of Finance and having representatives from MHA, RBI and other concerned Departments/Organisations has been constituted to examine the security features and/or associated technology for incorporation in future series of banknotes.

The RBI website provides information to the public on security features of banknotes. The contents pertaining to awareness on Indian banknotes are available in Posters on “Know Your Banknotes” are displayed at bank branches. Regional Offices of RBI participate in various awareness programmes where the members of public are made aware of the features of banknotes and ways to identity genuine banknotes. Posters, leaflets, etc. are also distributed in such awareness programmes.

This was stated by Shri Jayant Sinha, MoS in the Ministry of Finance in written reply to a question in the Lok Sabha.

Fake Indian currency notes (FICN) with the face value of more than Rs 12.85 crore have been seized this year in various countries from Pakistani nationals or from people having links with Pakistan.

According to a report prepared by the Home Ministry, the packets of FICN were either carried by Pakistani nationals or by those having links with Pakistani spy agency ISI.