Master Direction on Counterfeit Notes, 2023
The Reserve Bank of India has issued a master direction on counterfeit notes, outlining procedures for detection, reporting, and monitoring.
Key Provisions:
The direction covers various aspects, including:
- Authority to impound counterfeit notes
- Detection and impounding of counterfeit notes
- Issuance of receipts to tenderers
- Reporting of counterfeit notes to police and other bodies
- Examination of banknotes before issuing over counters, feeding ATMs, and remitting to issue offices of the Reserve Bank of India
- Designation of nodal bank officers and establishment of forged notes vigilance cells
- Provision of devices facilitating detection of counterfeit notes
- Reporting of data to RBI, NCRB, and FIU-IND through the FINnet Portal
- Preservation of counterfeit notes received from police authorities
The direction aims to prevent and detect counterfeit notes, ensuring the integrity of the Indian currency.
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Download: Master Direction on Counterfeit Notes, 2023 – Detection, Reporting and Monitoring