RBI to propose a separate cell to probe fake currency cases

RBI to propose a separate cell to probe fake currency cases
PTI
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First Published: Fri, Dec 12 2008. 06 29 PM IST
Updated: Fri, Dec 12 2008. 06 29 PM IST
Kanpur: With the rise in incidents of fake notes recovered from the currency chests of banks in the country, the Reserve Bank of India (RBI) will soon propose setting up of a separate agency or cell to deal with such cases.
“A proposal in this regard will soon be sent by the RBI to the Centre,” Executive Director of RBI, Mumbai, G .Gopal Krishnan said.
“A separate investigating agency or cell will help centralise information related to such cases and facilitate their quick disposal”, he said.
“With most of the fake currency rackets busted so far having international links, the RBI has ordered immediate installation of note verification machines at currency chests of major banks situated close to the India-Pakistan and India-Nepal borders in different states,” he said.
“Though admitting that of late there has been a rise in cases of recovery of fake currency notes from the currency chests of banks,” he said at the same time it is a matter of satisfaction that such cases are being busted due to the alertness of common people and officials.
Fake currency notes with the face value of crores were recovered by an RBI team from the currency chest of a reputed bank from Domariyaganj in Uttar Pradesh recently. Krishnan was in the city to inaugurate a stall installed by the RBI at the ongoing Handloom Expo here.
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First Published: Fri, Dec 12 2008. 06 29 PM IST