RBI withdraws banks' 25% compensation for detecting fake notes

The Reserve Bank on Thursday said it has withdrawn the instructions on compensation to banks at 25 per cent of the notional value of counterfeit notes detected.

Mere possession of fake notes can't be termed as offence: Bombay HC

 Observing that mere possession of counterfeit notes cannot be termed as an offence and prosecution is required to prove that the person had knowledge that the notes were fake, the Bombay High Court has set aside the conviction and five year sentence awarded to a man.

Mere possession of fake notes can't be termed as offence: HC

Observing that mere possession of counterfeit notes cannot be termed as an offence and prosecution is required to prove that the person had knowledge that the notes were fake, the Bombay High Court has set aside the conviction and five year sentence awarded to a man.

Man arrested with counterfeit notes in Haryana

A person was on Wednesday arrested for his alleged involvement in fake currency transactions and counterfeit notes of the face value of Rs 4,000 recovered from him here, police said.

Counterfeiters lapping up Rs 100, 1,000 bills: RBI

The banking system detected over 2.52 lakh pieces of counterfeit notes of Rs 500 denomination in FY14 as against the 2.81 lakh the year before.

RBI to incentivise banks for reporting counterfeit notes

The Reserve Bank will introduce a scheme of incentives for banks to encourage them to report detection of counterfeit notes.

'Large number of counterfeit notes may impact inflation'

The Reserve Bank has warned the government that presence of counterfeit currency may be used for anti-national activities and could also add to inflation.

Verify authenticity of notes of Rs 100 & above: RBI tells banks

In a step to check circulation of counterfeit notes, the Reserve Bank Wednesday asked all banks to ensure authenticity of notes of Rs 100 and above denomination before re-circulation.

New currency security features to reduce counterfeiting: Pranab

He was speaking on the occasion of commissioning of the new Bank Note Printing Line.

Five arrested with counterfeit notes printed in Pakistan

Five people were arrested in Uttar Pradesh`s Gorakhpur districtfor circulating counterfeit currency notes printed in Pakistan, police said Thursday.