February 8, 2013 8:05 AM

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RBI for changes in law to deal with menace of fake currency

The RBI has called for changes in laws to deal with the menace of fake currency. RBI Governor D Subbarao said, the central bank is in talks with the government to amend the relevant laws to ensure that persons generating fake currency are punished and not those who possess such notes innocently. He was talking to reporters after RBI Board meeting in Guwahati yesterday. Dr Subbarao said, the RBI has asked branch managers to be more sympathetic to people who come with fake currencies and go into the circumstances under which that person has come in possession of the currency notes. He also stressed the need to simplify the process for filing of the FIR in this regard.

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