NEWS & ADVICE : PERSONAL LOAN
New features coming soon to prevent currency fraud
By Vaibhav Aggarwal
May 26, 2011
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The increasing problem of fraudulous bank notes getting into circulation in the country has led the Government to work towards incorporation of added security features in currency notes to prevent fraud.

The announcement was made by finance minister Pranab Mukherjee while releasing a new manual of Security Printing and Minting Corporation of India (SPMCIL).

He said that SPMCIL would be designing better raw material for currency notes. In the upcoming three years time, 80-85% paper for bank notes would start getting manufactured in India rather than getting imported as is done now.

The new notes having the recently developed rupee symbol would be brought into circulation in short while.


 


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