The Reserve Bank of India (RBI) has admitted to wrongly printing Rs 1000 denomination notes without ‘silver thread features’.
Reserve Bank of India (RBI) has admitted to having circulated currency notes of Rs 1,000 denomination without the ‘silver thread’ security feature.
Absence of the silver security thread, which is a measure to check counterfeiting, makes a currency note invalid.
After the fault was discovered, the RBI issued instructions to all banks to provide exchange value in case consumers approach them with the faulty notes.
The faulty currency notes of Rs 1,000 were printed at Security Printing and Minting Corporation of India Limited (SPMCIL) at Hoshangabad in Madhya Pradesh, sources said.
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