Regulatory Alerts2026-07-31
Added · Updated
Fake Indian Currency Notes (FICNs)-Detection, Reporting and Monitoring
Banks are advised to review their processes to strengthen capacity for identifying, impounding, and reporting Fake Indian Currency Notes (FICNs). Cash handling staff must receive training on security features by October 31, 2026, with priority training for border area staff completed by September 15, 2026. Banks must equip branches in districts with international borders with Note Authentication or Sorting Machines and submit Action Taken Reports on training compliance by November 7, 2026, and September 22, 2026, respectively. Additionally, banks must submit a plan of action and progress details to the Department of Currency Management by September 15, 2026.
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