Press Information Bureau

Government of India

Ministry of Finance

02-September-2011 18:37 IST

Government takes Various Steps to Curb Circulation of Fake Currency

The steps taken by the Government to curb circulation of Fake Indian Currency Notes (FICN) in the country include stepping up of vigilance by the Border Security Force and Custom authorities to prevent smuggling of fake notes; dissemination of information on security features through print and electronic media and formation of Forged Note Vigilance Cells in all the Head Offices of the banks. Additional security features have also been incorporated in the bank notes in 2005 to make counterfeiting very difficult. To strengthen the security of bank notes further, incorporation of latest security features is underway. A high Level Committee headed by the Union Home Secretary comprising officials from central agencies and other senior police officials has been constituted to monitor and draw a comprehensive strategy to combat FICN. Similar bodies have also been set up in the States. In addition, Government of India have nominated the Central Bureau of Investigation as the Nodal Agency to monitor investigation of fake currency note cases. The RBI has also strengthened the mechanism for detection of counterfeit notes by the Banks.

This information was given by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question raised in Lok Sabha today.

DSM/SS/SL

Counterfeit currency prevention through coordinated enforcement, enhanced bank note security, and a central investigative nodal agency. Counterfeit currency circulation is being addressed through stepped-up border and customs vigilance, public dissemination of bank note security features, formation of Forged Note Vigilance Cells at bank head offices, and enhanced detection mechanisms by the Reserve Bank. A high-level committee and state bodies coordinate a comprehensive anti-counterfeiting strategy, and the Central Bureau of Investigation is the designated Nodal Agency to monitor investigations.