New notes can’t be counterfeited, says DEA Secretary Shaktikanta Das

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Updated: December 15, 2016 5:46:44 PM

The possibility of counterfeiting the new Rs 500 and Rs 2,000 notes is very less and they are also completely indigenous, said the DEA Secretary Shaktikanta Das during a press conference today.

Demonetisation, DEA, Secretary Shaktikanta Das, Currency counterfeiting, New notes, cash crunchThe possibility of counterfeiting the new Rs 500 and Rs 2,000 notes is very less and they are also completely indigenous, said the DEA Secretary Shaktikanta Das during a press conference today. (Source: ANI)

The possibility of counterfeiting the new Rs 500 and Rs 2,000 notes is very less and they are also completely indigenous, said the DEA Secretary Shaktikanta Das during a press conference today. First time notes were indigenously designed in house with security features and this makes these notes more secure with less chance of counterfeiting, he said further.

Commenting on the progress of demonetisation, he said that the initial focus was to supply Rs 2,000 notes to replace value that was taken out of the market. Now the focus is on printing more of Rs 500 notes, he added further.

On the measure to curb cash crunch in the country, Das said that the airlifting of currency will continue wherever necessary and more emphasis will be on the rural areas to ensure enough cash being provided there. He also said that the total number of notes in lower denominations of Rs 100 and below supplied in last 5 weeks is 3 times more than what RBI supplies in a year.

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The DEA Secretary also pointed out that there are 2 lakh 20 thousand ATMs and more than 2 lakh ATMs have already been re-calibrated. Banks are preferring supply of cash through branches to their customers than through the ATMs, he said.

Speaking on the US Fed rate hike, Das said that the rate would remain stable as our markers had already factored in the rate hike. On the money laundering front, he said that the actions taken by the enforcement agencies on illegally accumulated money are based on specific inputs. A surgical action you may call it!

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