Life insurance penetration in India higher than global average
To another query, Meena said RBI has initiated several measures to check the menace of counterfeiting of banknotes.
These measures include running education campaigns for members of the public and cash handlers so as to facilitate detection of counterfeits.
RBI has been incorporating new security features and designs in the bank notes to stay ahead of the counterfeiters, Meena said, adding that new security features were added to banknotes in all denominations during the year 2005-06.
Instructions have been issued to banks to disburse only sorted and genuine notes through their counters/ATMs, he added.
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