The steps taken by the Government to curb circulation of Fake Indian Currency Notes (FICN) in the country include stepping up of vigilance by the Border Security Force and Custom authorities to prevent smuggling of fake notes; dissemination of information on security features through print and electronic media and formation of Forged Note Vigilance Cells in all the Head Offices of the banks. Additional security features have also been incorporated in the bank notes in 2005 to make counterfeiting very difficult. To strengthen the security of bank notes further, incorporation of latest security features is underway. A high Level Committee headed by the Union Home Secretary comprising officials from central agencies and other senior police officials has been constituted to monitor and draw a comprehensive strategy to combat FICN. Similar bodies have also been set up in the States. In addition, Government of India have nominated the Central Bureau of Investigation as the Nodal Agency to monitor investigation of fake currency note cases. The RBI has also strengthened the mechanism for detection of counterfeit notes by the Banks.
Government takes Various Steps to Curb Circulation of Fake Currency
Last updated: 03 September 2011
Follow on
Google News
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Comments
Recent News :
- Direct Tax Collections Rise 16.4% to Rs 6.51 Lakh Crore as on 13th July 2026 for FY 2026-27
- Finance Ministry Empowers DRAT Delhi Chairperson to Decide PNB Appeals
- MSME-MCA Internship Claim False: PIB Advises Citizens Not to Share Personal Information
- FM Sitharaman Reviews RBI Swap Schemes; Banks Report Strong NRI Response to FCNR(B) Deposits
- Over 1.7 Crore Taxpayers Filed ITRs for AY 2026-27
- CBIC Allows Extension Beyond 2-Year Limit Under Customs Notification 8/2016
- CBDT Notifies TDS Exemption for Specified Payments to IFSC Units Under Income Tax Act 2025
- ICAI Renews MRA with CPA Australia to Boost Global Mobility for Accountants
- Income Tax Department Releases ITR-7 Excel Utility for AY 2026-27
- CBDT Authorises DGIT (Systems) to Upload Global Financial Information in AIS Under Income Tax Act, 2025
Popular News
- GSTN Revises Amendment of Aggregate Annual Turnover (AATO) Amendment Timeline for FY 2025-26
- CBDT Condones Delay in Filing Form 10AB for 80G Approval Applications Till 31st March 2026
- CBDT Notifies TDS Exemption on Aircraft Lease Rentals Paid to IFSC Units Under Income Tax Act, 2025
- GSTN Releases FAQs on Mandatory Ship-to Field and Voluntary E-Way Bill Closure 2026
- CBDT Notifies TDS Exemption for Specified Payments to IFSC Units Under Income Tax Act 2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
