Secret Indian currency template compromised: CBI

Discussion in 'Defence & Strategic Issues' started by Indianrabbit, Aug 14, 2009.

  1. Indianrabbit

    Indianrabbit Regular Member

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    Secret Indian currency template compromised: CBI - India - NEWS - The Times of India

    NEW DELHI: With checking the circulation of fake Indian currency notes (FICNs) becoming a big challenge for the law enforcement agencies, the CBI
    has said that the secret template being used to print currency notes has been "compromised".

    Though the RBI has so far not confirmed whether the secret template has actually been compromised, CBI, which is the nodal agency for coordination with states to handle FICN cases, has already set up a special team to "investigate how and at what level the security template has been compromised".

    "Our investigations have revealed that the 2005 secret security template which was introduced as part of the new design adopted then has been compromised," a news agency quoted CBI chief Ashwini Kumar as saying on Thursday.

    Asked if the country was still using the security template, Kumar replied in the affirmative, a revelation which may pose a big question mark over the current practice of using the "compromised" secret template for printing currency notes.

    A finance ministry official, however, said: "It is not easy to take away secret templates. We are not aware of what the CBI has found during its investigation."

    By using the word "compromised" the CBI means that the counterfeiters have deep knowledge about the kind of special ink, paper and other ingredients that go into the making of currency notes.

    Giving details of the investigation team, CBI spokesperson Harsh Bhal said: "A special team has been formed which consists of officers from CBI, DRI, RBI and CFSL. The team will investigate how and at what level the security template has been compromised."
     
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  3. Indianrabbit

    Indianrabbit Regular Member

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    Does any of you know how much impact does this actually have on us.
     
  4. pyromaniac

    pyromaniac Founding Member

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    Without knowing some exact details that are no doubt classified it is very hard to gauge the impact. However, this is a very serious problems....most of this illegal currency business are usually propagated by neighboring countries and if they are successful in cracking the "code" it can have some very serious ramifications on the Indian economy. Inflation would sky rocket and thereby you will have to spend more money to get less goods. This sort of thing is no laughing matter...I hope for once there is quick progress in addressing this issue.
     

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