RBI detects counterfeit notes

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New Delhi: RBI has detected more than two lakh pieces of counterfeit notes in the current financial year even as it has strengthened the mechanism to detect fake currency by banks, Parliament was informed today.

RBI has reported that the "data on source-wise detection of counterfeit notes during the period April 2010 to September 2011 is 264,282 pieces," Minister of
State for Finance Namo Narain Meena said in a written reply in the Lok Sabha.The maximum number of note pieces (152,930) have been detected in the Rs 500
category. One special FICN co-ordination group has been formed in Ministry of Home

Affairs to share the intelligence/information amongst the different security agencies of the state/centre to counter the menace of circulation of fake currency within the country with CBI being the nodal agency, Meena said.

"The security features in the high value currency notes are being constantly upgraded by RBI. RBI has also strengthened the mechanism for detection of counterfeit notes by the banks," he said.

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