Govt plans to change security features of bank notes every 3-4 years

02 April, New Delhi

The government plans to change security features of higher denomination banknotes of 2,000 and 500 rupees every 3-4 years to check counterfeiting.

The move comes in the wake of recovery of a large amount of fake Indian currency notes in last four months after demonetisation.

The issue was discussed threadbare at a high-level meeting on Thursday attended by senior officials of the ministries of Finance and Home, including Union Home Secretary Rajiv Mehrishi.

Advocating the move, Home Ministry officials said, most of the developed countries change security features of their currency notes every 3-4 years and therefore, it is absolutely necessary for India to follow this policy.

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