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Shocking! RBI prints Rs 1,000 denomination faulty currency notes
The notes, reportedly, printed in the 5AG and 3AP series, amount to Rs 30 thousand crore.
Zee Media Bureau
New Delhi: The Reserve Bank of India (RBI) has admitted to wrongly printing Rs 1000 denomination notes without 'silver thread features'.
The notes, reportedly, printed in the 5AG and 3AP series, amount to Rs 30 thousand crore. Out of these, notes worth Rs 20 thousand crores are with RBI while currency notes worth Rs 10 thousand crores have been circulated in the market, media reports say.
Notably, silver security thread is a measure to check counterfeiting. Absence of this feature makes a currency note invalid.
The faulty currency notes were printed at Security Printing and Minting Corporation of India Limited (SPMCIL) at Hoshangabad in Madhya Pradesh and then it reached RBI press in Nashik.
Other reports say that RBI and Finance Ministry have decided to burn these notes.