The Reserve Bank of India (RBI) on July 31, 2026, notified regarding the Fake Indian Currency Notes (FICNs)-Detection, Reporting and Monitoring.
The following has been stated namely:
• RBI has advised banks to strengthen their mechanisms for the detection, reporting, and monitoring of Fake Indian Currency Notes (FICNs), following observations that compliance with the Master Direction on Counterfeit Notes – Detection, Reporting and Monitoring dated April 01, 2026 has been inadequate.
• Banks shall ensure that all cash-handling staff are trained on genuine banknote security features by October 31, 2026, with staff in border-area branches to be trained by September 15, 2026. Action Taken Reports (ATRs) must be submitted by September 22, 2026 (for border branches) and November 7, 2026 (for all staff training).
• Banks are also required to equip branches in international border districts with Note Authentication/Sorting Machines, analyze counterfeit note data through their Forged Note Vigilance (FNV) Cells to identify hotspots, and establish a monitoring mechanism for compliance.
• Additionally, banks shall submit their action plan and progress report to RBI's Department of Currency Management by September 15, 2026.
[Notification no. - RBI/2026-27/220 DCM (FNVD) No.S1335/16.01.05/2026-27]
