New 500, 1000 notes soon

6brk112So far Rs 30 crore worth fake currency had been seized across the country. RBI has initiated a new policy from May 2016 to release new currency notes to arrest the growth of fake currency as the officers informed that RBI Note Printing private limited and Security Printing and Minting corporation of India limited have decided to jointly print currency with new numbering systems. Besides, a seven phase security would be formulated to identify fake currency. Initially currency with denominations of 1,000 and 500 notes numbering will be changed.

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