RBI asks banks to install fake currency detection machines at branches along international borders

RBI asks banks to install fake currency detection machines at branches along international borders

RBI says all banknotes received by the bank to be examined for authenticity through machines, counterfeit notes should be impounded in all cases, and in no case the counterfeit note shall be returned to the tenderer or destroyed at the bank

RBI Mandates Fake Currency Detection Machines In Border District Bank Branches

The Reserve Bank of India (RBI) has taken a significant and decisive step to eliminate the circulation of counterfeit currency within the Indian financial system. Observing a certain level of laxity among various banking institutions regarding the detection and handling of fake notes, the central bank has issued a stringent set of instructions. This move is primarily aimed at safeguarding the integrity of the nation's economy and ensuring that t…

RBI asks banks to identify counterfeit currency hotspots

The Reserve Bank of India has directed banks to equip branches in international border districts with note authentication machines by October 2026 to curb the circulation of fake currency and strengthen financial security.