Who is controlling RBI ?

The CBI raided the vault of the Reserve Bank of India and found a huge cache of counterfeit Indian currency lying in the denomination of 500 and 1000. This was conducted when the CBI raided some 70 odd branches of various banks on the India Nepal border from where counterfeit currency racket was unearthed.The thin line between genuine and counterfeit currency has further got blurred and the banks and ATM machines too are churning out counterfeit currency foisting it for genuine exchange instrument.The CBI sent the notes to labs in Japan ,Hong Kong & America for testing.  It was here that the lab discovered that they were counterfeit.Only a small path ion the notes has been altered. It was this information that triggered the CBI raids on the banks bordering Nepal.

Now a Committee, headed by V Kishore S Dev, has said in its report that in between 1997 -1998 the India government got printed Indian Currency worth one lac crores in America, Germany and England.This committee raised such question in front of RBI as well and the trouble creating fact is that the RBI could not give any satisfactory answers to this.RBI replied to committee that at that time the Indian Mint was not capable enough to fulfill the demand of the different departments concerning the supply of money. As per the data, during 1996-97 RBI required 3 lack 35 thousand and 900 hundred crores of rupees and that time the production printing was 2 lac 16 thousand 5hundred and 75 crores only.The similar way RBI required the notes worth 1 lackh 20 thousand crores .

DELARUE , a British Company, has its biggest contract with RBI(earns 25% of its profit from India) and it provides India with special watermark paper for printing currency. The moment RBI was raided the shares of this company plunged.On the 5th January 2011 India severed all business relations with DE LA RUE. It came to light that RBI had disbursed the contract of 16000tons of printing paper to four competitors of DE LA RUE & not even invited to bid.DE LA RUE CASH SYATEM INDIA PRIVATE LIMITED was given an office in India. The company deals in currency paper, passports, high security paper, security print, holograms and cash processing solutions. It sells to India equipment needed to differentiate the reals from fake currency. This means that this is the same company that is sending counterfeit in the country and is also selling the machines to test their genuity. This perhaps is the reason that in India fake currency passes all tests of being real. The government must come down upon such machines and see the origins of their supply.

Indian authorities estimate that as many as 400 million fake rupee notes with a face value of some $9 million are in circulation in the state of Uttar Pradesh alone, and fake currency dealers in Nepal projected in 2009 that “by 2010 nearly 10,000 crore ($2.2 billion) of fake currency will be in circulation in India”.
Government  appointed deputy RBI Governor Shyamala Gopinath  to control RBI Governor D.Subbarao work . 

The owner of DE LA RUE Tim Cobald is in collusion with Italian mafia is running fake currency racket in the country. ISI and Pakistani terrorists gets their supply directly from Europe. And this is the reason why the Indian agencies have failed in the past to rein in this racket as they have been looking at Pakistan, Malaysia, Hong Kong andn Nepal only. What has been transpiring in Europe has not caught their eye.Now the question is that when the premier investigating agency has called this a national security threat, what action has the government taken? Why was the Parliament not told about this?

profile of Banks 2009-10—

India external debt upto 28 sept 2007–

Government of India outstanding security—

  1. Alok
    April 25, 2011 at 12:51 pm

    One thing which is obvious is this, the RBI is trying to say “rupee securities”as their assets whereas these are assets which are printed by the RBI themselves/have no value. The people at the top are responsible for this so that they can route money/national assets at their whim.

    August 28, 2011 at 12:31 am


  3. October 24, 2011 at 1:51 pm

    Finding a good supplement is one of the vital factors to living a healthy life. For me, this vitamin has always proven to be the greatest. It just gives your soul what it needs and it doesn’t have all of those nasty side effects as all of the poorer ones. It’s also one of the less costly ones out there.

  4. October 26, 2011 at 9:56 pm

    That’s such a wonderful useful resource that you’re providing and also you provide out for free. I enjoy viewing websites that understand the value of offering a excellent useful resource for free. I really cherished reading your post.

  5. November 1, 2011 at 7:30 pm

    In fact, most of the Currency Sorters offerred from Eeurope are for sorting of note quality, orientation, denominations,designs, face up-down etc, and in no case for Authentication of notes. However, almost all the European manufactrurers SOMEHOW could convince Indian Banks that Currency Sorters are exellent Authenticators and they thus could dump such machines in the Banking Industry. It seems to have been the prime reasons of easy passing of fake notes in Indian Banking Channel.

    Control on Issuance of fake notes from ATMs and Banks’ Cash Desks & Infiltration of Fake Notes in banking Channel:

    In order to ensure control over frequent issuance of Fake notes from ATMs, Banks’ Case Desks and Infiltration of Fake Notes in banking channel, it is imperative for Banks to understand and recognize some basic but practical facts and fundamental technical differences with regards to the two important operations and processes on Currency notes i e

    a) Authentication of genuine notes cum detection of fake notes that could be hidden in the packets of genuine notes ( plus counting and value counting) &

    b) Sorting Processes over genuine notes after removal of fake notes

    Lots of Confusions, Misconception & Misunderstanding seems to have been prevailing amongst most of the Banks, ( mainly due to technical complexities involved in the security features of the notes,) with regards to the type of machines which are required for Authenticity
    Check & machines that is required for Sorting of Notes; while grossly undermining the serious differences in reality, practicality and technicality involved in both the operations.

    Most of the banks have practices of using Sorting Machines for Authenticity Check with Simultaneous Process of Sorting of the Notes, which could be one of the many reasons, allowing the fake notes to pass through as genuine.

    The Banks presumes that issuable notes passed by the sorters are 100% genuine only. This process allows fake notes to escape as re issuable genuine notes, simply on the basis of matching of fake notes’ images with genuine notes’ images, as scanned by sorters through image sensors.

    Moreover, RBI is very clear in their guidelines to Banks that authentication is the pre requisites of sorting process but most of banks do not follow or understand the message issued by RBI!

    Most of the Banks follow sorting first and authentication for sorted notes later as secondary process. They manually examine the unfit (non re issuable) sorters’ rejected notes to decide which one out of the sorted and rejected notes are fake; grossly ignoring the high probability of passing Fake Notes due to unsuspecting Sorting Parameters like orientation, face up, face down, denomination which could contain fake notes that could probably be passed for matching the said parameters.

    Technically, both the operations on the notes are mutually exclusive for obtaining respective accuracies in both these differentoperations on currency notes. However, both the operations are misunderstood and taken as Synonymous and mutually inclusive is the basic root cause of the problem.

    The currency authenticity check has been absolutely and directly concerned to national Economy, crime, loss of value etc; requiring high level accuracy of detection of fake notes Vis- a -Vis less relevant currency sorting process which is concerned only with discrimination of Notes on the basis of qualities, denominations, orientations, face up & face down arrangements in the packets for convenient handling of genuine notes.

    Currency sorting machine have not bee meant for detection of fake notes and validation of genuine notes; as good quality of fake notes with identical images to that of genuine notes can pass as “Genuine” on the basis of matching of images on the notes. Practically, the Fabrication of identical images on fake notes has become easy tasks now a days by uses of high quality of color scanners, color printers, computers etc.

    The sorters just can discriminate the images and do not verify the physical and chemical properties used in printing the notes. There has to be substantial variation between the material used in the fake notes and materials used in the genuine notes even fake notes are made by specialists with high end infrastructures of generating the fake notes in bulk with other states supports. This is because every security features if examine in details has large number of their own independent technical specifications.

    High Scanning Speed of sorters kills the accuracy of authenticity as with high speed large number of check points are skipped without any check of their respective authenticity, while absolutely depending upon apparent images only.

    Evidently there has been large many instances happening, where in, although notes are said to checked through sorting machines, at the end have been turn out as fake consequently.

    Consequently, Accurate Currency Notes Authenticity check process, through most effective and Compatible- to-job Machines, has been an urgent need of time for our Banking Industry for Installation at Bank branches, ATM centers, currency chests etc. in order to ensure that fake notes do not infiltrate in banking channel

    In case country’s Economy has to be protected properly against any superior level of forgery and against economy wars wage by other countries , the sorting machines are to be replaced by mini forensic lab type currency authenticators at all bank desks.

    Concerned persons of all Banks should visit a web site http://www.paradigmcashsystems.com for genuinely following the guidelines of RBI. The concept is very sincerely explained in the web details

  1. April 23, 2011 at 10:59 pm

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: