RBI Issues Updated Master Direction on ‘Counterfeit Notes, 2024 – Detection, Reporting and Monitoring’
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Master Direction No. RBI/DCM/2024-25/115 DCM (FNVD)/G4/16.01.05/2024-25; Dated: 01.04.2024
RBI has issued an updated master direction on ‘Counterfeit Notes, 2024 – Detection, Reporting and Monitoring’. The master direction consolidates all existing guidelines/instructions/directives issued to banks from time to time. Each bank must designate a Nodal Bank Office, district-wise to serve as the contact point for all Counterfeit Note detection-related activities and notify same to RBI. Further, banks must also monitor patterns of such detection and bring to the notice of RBI immediately.
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