Mumbai: Close on the heels of the arrest of two brothers in possession of fake currency worth Rs. 48,000 in Rs. 2000 denomination earlier on Wednesday night ( 9 August) by the Mathura Police police, the Reserve Bank of India today issued a statement to assert that the process and system followed for production of Indian banknotes are at par with the best practices adopted globally.
Besides the arrest of two persons, earlier this week, the Mathura Police had arrested a gang of cheats and seized from them fake notes of Rs. 700,000. These fake notes were sent to the RBI.
In line with the global best practices, RBI has said that banknote quality is maintained well within the various tolerance parameters for dimension, placement of design, print features etc.
RBI has further said:
The currency printing presses are equipped with state-of-the-art machinery, documented systems and technically qualified personnel through which quality control is ensured at each stage of banknote production.
There are integrated systems in place for inspection of each single note at high speed. These systems validate the security features and print quality of the notes. The stringent quality control procedures also include various online and offline systems for inspection of final product quality.
Labs with specialized paper and ink testing facilities, which verifies the specification parameters are available in the presses.
There are standard tolerance limits prescribed for certain features of the note, viz., security thread width, wandering of watermark and security thread, and cutting accuracy. RBI rarely receives complaints from the members of public on banknotes with features beyond the acceptable tolerance levels.
A standard operating procedure is in place for dealing with such rare cases wherein each such note is examined and corrective steps taken, if necessary.