(a) whether Government mulls steps to set up a Directorate of Currency;
(b) if so, the details worked out so far in this regard; and
(c) the manner in which it would be beneficial to the common man?
(a) whether Government mulls steps to set up a Directorate of Currency;
(b) if so, the details worked out so far in this regard; and
(c) the manner in which it would be beneficial to the common man?
MINISTER OF THE STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a): Yes, Sir.
(b): The Directorate of Currency (DOC) in the Ministry of Finance will have the mandate to:
(i) monitor & review best practices around the world;
(ii) monitor & review instances of breach of security features in India;
(iii) identify new security features; and
(iv) fund R&D on a continuing basis.
(c): The efforts of the DOC are expected to substantially contain the counterfeiting of Indian Bank Notes.