A new numbering system to check the menace of fake Indian currency Notes

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To check the risk of Fake Indian Currency Notes (FICN), a new numbering system and seven new security features will be incorporated in all currency notes. It is especially for the Rs. 1,000 and Rs.500 notes. The Bhartiya Reserve Bank Note Mudran Pvt Limited (BRBNMPL) and the state run Security Printing and Minting Corporation of India Limited (SPMCIL) are working together for the introduction of the revised number pattern. Initially, it will be made for Rs 1,000 and Rs 500 currency notes. By next year, currencies of all other cult will have this feature.

The Reserve Bank of India has also asked the banks to impress fake notes detected over the answer as “counterfeit note” and take away them right away. Banks found not following the procedure will be penalised. They have also been instructed to issue a receipt for counterfeit notes to the tender for the FICN. As per the estimates, fake Indian currency notes of face value of Rs 30 crore have been retarded. National Investigation Agency (NIA) has been designed the nodal agency for fake currency cases.

Pakistan’s ISI  has been actively forcing pretend notes into India and central safety businesses are alarmed on the new routes being taken by the spy company to release the financial terror. The circulate of faux notes is not restricted to smuggling from the border areas of Pakistan, Bangladesh and Nepal however Southeast Asian nations have these days emerged as essential transit factors.

Malaysia, Thailand and Oman, frequented by Indians, have emerged as the new centres for stocking FICN and then circulating it across India. Apart from the road and railway routes, the air route via Bangladesh, Nepal, Sri Lanka, Malaysia, Singapore, Thailand and the United Arab Emirates, as also China and Holland, are being used for smuggling in fake notes.

As per latest data released by the National Crime Records Bureau (NCRB), Gujarat tops the list of five Indian states that are considered the “safest” for circulating counterfeit currency notes. Of the 30,354,604 counterfeit notes grabbed across the country, 8,747,820 were recovered from Gujarat in 2014. In certain cases, courier providers of worldwide reputation have additionally been utilized by the ISI to drive in pretend foreign money notes.

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