RBI cautions public over fake currency; urges to check 500 & 1000 rupees notes
 Source : News Bharati English  Date : 27-Oct-2016

New Delhi, October 27: Reserve Bank of India (RBI) has issued a public notice requesting people to check  500 rupees and 1000 rupees currency notes before accepting them during any transaction in order to avoid circulation of fake currencynotes.
Fake Indian Currency Notes of higher denominations are being circulated by decietful elements claims RBI. RBI in order to caution civilians of such malpractice and identify the culprits has made detailed information on the security features on the banknotes available on RBI website.Embeded Object“Make it a habit of looking at the notes before accepting them in the usual course of daily transactions and help arrest the counterfeiting of Indian banknotes,” said the notice issued.

“Reserve Bank would like to remind all stakeholders that counterfeiting of notes, or possession, exchange, acceptance, putting into circulation of counterfeit notes or in any way abetting such actions are offences under the Indian Penal Code and such actions are liable to be punished stringently,” the notice further said.

Central Bank is considering additional identity requirements for the use of Indian banknotes in large numbers. RBI has also appealed to authorities to look into the matter and arrest the counterfeiting of Indian banknotes.