Security features on Rs 500 and Rs 2000 notes to change often
Posted on: 03/Apr/2017 5:06:01 PM
The security features on high denominations currency notes like Rs 500 and Rs 2000 will keep changing for once in 3 to 4 years. This will be in accordance with the global standards so that counterfeiting is avoided.
This is an initiative to recover fake Indian currency notes in circulation in the past 4 months post demonetization.
During a high level meeting held on Thursday, there were discussions in this regard. Many senior officials of the ministry of finance and home including Rajiv Mehrishi, the Union Home Secretary took part in the meeting.
In most developed nations, the security features on currency notes are often changed – once in 3-4 years mostly. It is imperative to follow the same in India too, said officials.
The work to alter design of Indian currency has been on cards for long. Until demonetization, no effective change in Rs 1000 note was made. The Rs 500 notes got released in 1987 and the notes were altered only a decade ago.
There is no additional security feature added to the newly introduced notes. These are quite the same as Rs 1000 and Rs 500 notes, said officials.
Out of the 17 security features in Rs 2000 notes, the fake notes have close to 11 replicated. Transparent area, watermark, letters of Rs 2000, Ashoka pillar emblem, RBI governor’s signature, etc are clearly replicated.
