Published On: Sun, Sep 6th, 2015

New numbering system to be introduced in 1000 rupee notes to check counterfeiting

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The Bhartiya Reserve Bank Note Mudran Pvt Limited (BRBNMPL) and Security Printing and Minting Corporation of India Limited (SPMCIL) have reportedly initiated steps for introduction of the revised number pattern in 1000 and 500 rupee note denominations initially.

A new numbering system and seven new security features will be incorporated in all currency notes in order to check the menace of Fake Indian Currency Notes (FICN).Besides, the government has approved seven new security features, details of which are not yet known, in the bank notes, the sources said.

The Reserve Bank of India has also asked the banks to stamp fake notes detected over the counter as “COUNTERFEIT NOTE” and impound them immediately.

Banks found not following the procedure will be penalised. They have also been instructed to issue a receipt for counterfeit notes to the tenderer of the FICN, they said.

As per the estimates, fake Indian currency notes of face value of Rs 30 crore have been seized.

National Investigation Agency (NIA) has been made the nodal agency for FICN cases as the government treats this menace as ‘economic terrorism’.

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