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Saturday, August 6, 2016

Security features of currency notes

Press Information Bureau
Government of India
Ministry of Finance
05-August-2016 19:03 IST


Security features of currency notes 
A study on Fake Indian Currency Notes (FICN) issues, including estimation of FICN in circulation, has been undertaken by Statistical Institute (ISI), Kolkata under the overall supervision of National Investigation Agency (NIA). As per the study, the face value of FICN in circulation was found to be about Rs. 400 crores. It was found the value remained constant for the last 4 years. As per the data from National Crime Records Bureau, number of seized and recovered FICN is as follow


Number of Notes seized and recovered

Financial Year
Rs. 1000
Rs. 500
Rs. 100
Rs. 50
Others
2013
194767
429757
185865
13043
23535
2014
175488
334681
188973
8067
3340
2015
178022
299524
217189
7702
3134


 The Committee headed by Shri Shilabhadra Banerjee has submitted its report. The design and security features of banknotes are decided by the Government of India from time to time, in consultation with Reserve bank of India (RBI). A post of Director General in the rank of Additional Secretary in the Directorate of Currency has been created.

To check the menace of counterfeiting of banknotes, The Ministry of Finance, Ministry of Home Affairs, Reserve Bank of India, Security and Intelligence Agencies of the Centre and States are working in tandem to thwart the illegal activities related to Fake Indian Currency Note (FICN). An FICN Coordination Group (FCORD) has been formed in the Ministry of Home Affairs to share the intelligence/information amongst different security agencies of States/Centre to counter the menace of agencies to effect more seizures. The issue has also been raised in international multilateral fora constantly. RBI has also initiated several measures for generating public awareness, conducting training programs for employees/officers of banks and streamlining the process of reporting and detection of counterfeit notes. Further, in order to stay ahead of the counterfeiters, Government has recently introduced revised numbering pattern in all denominations of banknotes. RBI has issued Press Release in this regard on June 25, 2015.


This information was given by Minister of State for Finance Shri. Arjun Ram Meghwal today in written reply to a Lok Sabha question

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