21 Jan, 2016 11:05p.m.

RBI to stop circulation of notes of Rs 1,000 denomination without security thread

The Reserve Bank of India (RBI) on Wednesday said it has received complaints about notes of Rs 1,000 denomination without the security thread being in circulation and has asked banks not to issue them in case these are found.

"We have received complaints regarding banknotes in the denomination of Rs 1,000 printed by Currency Note Press, Nashik, on the paper (without security thread) supplied by Security Paper Mill (Hoshangabad)," an RBI spokesperson said. 

The RBI has informed all the banks in Mumbai region not to issue such notes if found in stock and to provide exchange value to the customer who approaches with such a note, if it is otherwise genuine.

"We have also escalated the matter to the government."

The total number of such notes with public may not be more than 500 pieces, the spokesperson added.

So, in value terms these would be worth Rs 5,00,000. 

Currency Note Press, Nashik is a Unit of Security Printing and Minting Corporation of India Limited (SPMCIL) under administrative control of the Finance Ministry.



Latest in Important News
Latest in Other News Sections
RBI cuts repo rate by 25bps. EMIs likely to get cheaper 🕑 07 Feb,19 1:02p.m.
Budget 2019 expectations : IT exemption limit likely to be hiked to Rs 5 lakh 🕑 17 Jan,19 9:29p.m.
Researchers develop plants that can remove cancer-causing pollutants 🕑 27 Dec,18 12:59p.m.
6 months of aerobic exercise reverses brain ageing by 9 years 🕑 24 Dec,18 2:31p.m.
All you need to know about NPS changed withdrawal norms 🕑 24 Dec,18 11:47a.m.
Scientists succeed in destroying HIV-infected cells 🕑 22 Dec,18 10:22p.m.
Johnson and Johnson talcum powder samples seized across country for testing 🕑 19 Dec,18 1:26p.m.
Govt. for levy on petrol and diesel cars to push to push e-vehicles 🕑 19 Dec,18 1:20p.m.
Tax changes in 2018 that will affect you 🕑 19 Dec,18 1:09p.m.
Google maps now shows auto-rickshaw┬ároutes with estimated fares 🕑 19 Dec,18 11:53a.m.