RBI suggests steps to counter fake notes circulation

    
Mumbai, Aug 11 A high level group constituted by RBI has recommended enhancing security features on currency notes and installation of notes-sorting machines among other steps to counter the rise in circulation of fake notes.

The High Level Group on Systems and Procedures for Currency Distribution recommended enhancing security features on currency notes which have to be constantly upgraded.

The group, headed by RBI Deputy Governor Usha Thorat, also suggested waiving the current requirement of filing an FIR by banks in case one gets possession of a few fake notes.

It suggested that currency notes should be filled in ATMs in a highly secured manner.

The group also asked banks to give a roadmap for installing notes-sorting machines at all branches in a phased manner.

- (Agencies)
Aug 11, 2009

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Friction type intermittent roller operated, fins driven Note Counting Machines ( NCMs ) extended and converted as fake notes detectors by fixing UV/IR/Magmatic and ordinary light sensors are technically baseless and most inaccurate devices for discriminating highly sophisticated super fake notes hidden with genuine notes, as such machines depend on over all surface checking of notes which is most incompatible criterion for accurate detection and discrimination of fake notes that have been incorporated with identical overall features of genuine notes. These kinds of converted FNDs can not pip into the thinnest marginal differences of security features in both categories of notes, although are useful for discriminating poorly fabricated notes which otherwise can be easily detected at a glance or touch feel verifications. Detection of Super quality fake notes printed and pumped into any country with supports of other countries having strong sources of procurements of raw materials identical to original specifications & possessing full fledged infrastructures of Bank notes printing, is technically impossible with the incompatibly high scanning speed of 20 notes in a second, I e 0.05 seconds per note by note counting machines or sorters. Especially impossible in case of intricate Indian notes with vide verities of designs, quality, security features, un- uniform nature, spoilages on the notes, mishandlings etc for validity verification & detection of Fake Indian Notes. Hence the Desk Top Fake Notes Detectors (DTFNDs) / Mini Currency Validity Verification & Processing Systems (MCVVPSs) have been only the 100% accurate solution for accurate discrimination of super fake notes and genuine note. These highly sensitive and 100% accurate devises in no case be compared with the built up High speed note counting machines or high speed sorters which are meant altogether for different operations of counting and sorting notes on basis of fixed parameters.
Posted by Kirit Vora on 07 Nov 2009 01:52 PM
Most of the recent cases of remittance of fake notes to RBI and issuance of fake notes at ATM centers or at cash desk by many leading commercial Banks have been emerging as a result of erroneous understanding on complexity and intricacies involved in the related technology not only that of notes but also of different special purpose machines like sorting machine, counting machines, handy UV/IR equipments, ink pens and manual checking process leading to improper/inaccurate detection most of the time out of the results of not deploying right detection equipments having compatible technology for FICNs detection. Desk Top Fake Note Detectors/ Sorters -DTFND/Ss (also have been recognized as Mini Currency Validity Verification & Processing Systems –MCVVPSs ), in the international Banking channels have been used for validity verification & fake note detection for exhaustive/detailed scanning of all notes while working on Image Cum Data based technology wherein fake notes are processed in isolation to any other type of segregation and hence have been regarded as only the perfect detection tools as against Note Sorting Machines – NSMs(also have been recognized as Desk Top Sorters –DTSs) which have been primarily used for different types of specialized currency operations of segregating the notes on the basis of set criterion like quality, designs, faces, orientations, denominations etc and pockets have been provided for collecting notes under such set criterions but no special “on line” pockets have been provided for separating fake notes during sorting on different set criterion to isolate the fake notes from all other type of notes. As you may be aware, NSMs/DTSs do not scan, detect and segregate the fake notes in Isolation of other set criterions by transporting fake notes in the separate and exclusive pocket for collection of fake notes but have been mixed and transported to different pockets as per the normal criterion set in the machine and hence technically becomes impossible to detect the fake notes in isolation to other categories of notes. NSM being incompatible for fake notes detection, have not been used for validity verifications & detection of notes unless those currency types have high end costly security features which are least in ICNs, as the same have been working only on image based technology which though useful for such set sorting process, have not been found good enough for validity verification & detection of fake notes, unlike that of DTFND/Ss-MCVVPSs which sorts the notes in isolation. We feel the said aspects were absent in the report of HLG, mainly due to merely dearth of such machine in India, as development of such machine needed special R & D efforts separately for each currency types Viz US Dollars, Euro, Sterling pound, as have been carried out by us for detection of Fake Indian Currency Notes to make it possible to check even super fake notes in pure isolation.
Posted by kirit Vora on 24 Oct 2009 09:15 PM
We feel RBI's deliberation on suggesting bankers the use of "sorting machines" needs further attention to looking for “Genuine & Accurate fake note detectors" which work on data cum image based technology. Sorting machines are working just on image base technology which is limitedly compatible and useful just for fitness/quality sorting of notes and are too poor to detect super fake notes. Sorter just throws out large number of doubtful notes with comparatively large number of false alarms and carries very high possibility of passing super fake notes as genuine resulting into issuance of such notes at cash counters or at ATM centers. The kind of machines Indian Banks at cash counters needed are the machine which can verify not only the images but also can check the chemical and physical properties of papers, inks, resins and other materials used in production of note. The machine should be capable of not allowing any fake note to pass as genuine. It is possible only with the detectors specially developed considering the large number of intricacies concerning to Indian notes. A multi currency super fake note detector/ Currency verification & processing Systems is recently launched by an Indian company having web address www.paradigmcashsystems.com . It is suggested therefore that all the concerned authorities form RBI, Government of India, Banks investigative agencies etc should invariably go through the crucial informations provided in the web site. It could help in curtailing the menace of fake notes prevalent in our country
Posted by kirit vora on 14 Aug 2009 05:15 PM




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