(a) whether it is a fact that there are no effective arrangements to identify
fake currency notes in most of the branches of Public Sector Banks (PSBs);
(b) if so, whether the Government is aware of the problems being faced
by the consumers on this account;
(c) if not, the factual situation in this regard; and
(d) the steps being taken by the Government in the matter?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI S. S. PALANIMANICKAM)
(a) to (d) Reserve Bank of India (RBI) has reported that all Currency chest branches of banks
and certain non-currency chest branches have been equipped with Note Sorting Machines to detect
and curb the circulation of counterfeit notes. RBI has further instructed banks that banknotes
in denominations of Rs.100/- and above should be re-issued by banks over their counters or
through ATMs only if these banknotes are duly checked for authenticity/ genuineness and fitness
by Note Sorting Machines.
Banks have also been advised to use, by March 2010, Note Sorting Machines in all their branches
having average daily cash receipts of Rs.1 crore and above and also in those branches having
average daily cash receipts between Rs.50 lakh and Rs.1 crore by March, 2011.
As a part of the public awareness campaign to educate the public, RBI has also been popularizing
the security features of the bank notes through its website, posters displayed at branches of
the bank etc. A film depicting the security features of a genuine note has also been released
in theaters besides being exhibited by Regional Offices of RBI at various exhibitions, bus
stations/railway stations etc.
To check the menace of counterfeiting of banknotes, the Reserve Bank has initiated several
measures, which include, augmenting security features on the bank notes so as to render
counterfeiting difficult and expensive.