Security thread missing from currency notes

Security thread missing from currency notes

Security thread missing from currency notes

Authorities have discovered over Rs 7.5 lakh notes of Rs 1,000 denomination in circulation without security thread on them. The incident occurred in the Hosangabad unit of the Security Printing and Minting Corporation of India (SPMCIL). Minister of State for Finance Jayant Sinha told Parliament.

On December 11, 2015, one of the regional offices of RBI disclosed that it had received some banknotes of Rs 1,000 denominations with inset letter ‘L’ belonging to some particular series without the security thread, Sinha said in a written reply in the Rajya Sabha.

He also assured the House that disciplinary action was underway against the concerned officials. The minister, however, said that other essential features were present in the banknotes in question. The defective notes found to be in circulation amounted to Rs 7.56 lakh only. Earlier too, there were instances of some currency notes with a defective security thread printed at the same unit, the minister said.

“The government has taken these incidents very seriously and has instructed SPMCIL to initiate disciplinary proceedings against the officials involved,” he said.

Online inspection of the manufacturing process will also be initiated.

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