Press Information Bureau

Government of India

Ministry of Finance

30-November-2012 18:03 IST

Reserve Bank of India (RBI) has informed that there has been increase in detection of counterfeit notes in the banking system. The data on detection of counterfeit notes by the banking system during the last four years is as under:

(detection in pieces)

To check the menace of counterfeiting of banknotes, the RBI has initiated several measures. These measures include running education campaigns for members of the public and cash handlers so as to facilitate detection of counterfeits. Some of the steps taken in this regard are as follows:

i)   Incorporating new security features/new designs in the bank notes to stay ahead of the counterfeiters is an ongoing process. New security features were added to banknotes in all denominations during the year 2005-06,

ii)   Instructions have been issued to banks to disburse only sorted and genuine notes through their counters/ATMs

iii)   The Reserve Bank regularly conducts training programmes on detection of counterfeit notes for employees/officers of banks and other organizations handling large amount of cash. The Reserve Bank’s website provides information to the public on security features of banknotes. Posters on Know Your Banknotes are also displayed at the bank branches. A film depicting the security features of a genuine note has been made by Films Division and the same has been released by them in theaters besides being exhibited by Regional Offices of RBI at various exhibitions, bus stations/railway station.

iv)  The bank has also launched a multimedia, multi-lingual awareness campaign, initially through Doordarshan channels from August 15, 2010. The 60 second film is titled “Paisa Bolta Hai” and is being shown in Hindi and eleven other languages. The film’s message to the common man is to form a habit of examining the banknotes. The contents are also available in www.paisaboltahai.rbi.org.in.

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

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DSM/RS/ka

Counterfeit banknote prevention strengthened by upgraded security features, bank sorting instructions and public awareness campaigns. To check counterfeiting, the Reserve Bank implemented technical, operational and informational measures: ongoing incorporation of new security features and redesigns; instructions to banks to disburse only sorted and genuine notes through counters and ATMs; regular training programmes for bank employees and other large-cash handlers in detection procedures; and public education via posters, website information, a film on security features and a multilingual mass-media campaign to promote examination of banknotes.