State Bank releases a video on awarness of fake Rs 1,000 notes

The central bank has released a special video to raise awareness after fake Rs 1,000 notes were found circulating in the country.

LAHORE: State Bank releases video on delivery of fake Rs 1,000 notes and has released a special video to create awareness among the public. According to details, the State Bank of Pakistan released a video showing who delivered fake notes worth Rs 1,000.

A video posted on the state bank's social media account says that to check the originality of Rs 1,000 notes is very simple. The 1,000 note is made of special paper, and the front of the 1,000 note has a watermark of Quaid-e-Azam's image, and the 1,000 rupee watermark is also written below the image.

Image Source: State Bank Of Pakistan Official Twitter Account.

Viewed from the side, the security thread is visible and the value of the banknote is also displayed, and the value of the banknote is displayed fragmentarily on the upper side.

The 1000 rs note also features a color changing flag on the front right side. The video further states that the number 1000 is hidden on the right side of Quaid-e-Azam's photo and there is also the number 1000 on the right side of Quaid-e-Azam's sherwani under special camouflage yellow and turquoise colors. You can see the wires when exposed to ultraviolet light. According to statistics on the prevalence of counterfeit currency, the most common counterfeit notes in circulation from 2022 to 2023 were counterfeit 1,000 rupee notes, and 35,000 counterfeit notes were intercepted nationwide in 2023.

According to records, 25,000 fake notes of various denominations were submitted to the state bank by the FIA and police forces across the country. Each bank will submit 10,000 counterfeit notes, roughly the same number of counterfeit notes detected over the past two years. According to the head of the finance department of the state bank, no complaints have been received about counterfeit banknotes coming out of the country's ATMs.

Banks are required to keep surveillance camera images of banknotes stored at ATMs for 90 days. It was earlier revealed that there were a large number of fake 5,000 rupee notes in the country. Last month, on December 19, a meeting of the Standing Committee on Finance was held under the chairmanship of Salim Mandviwala, during which Salim Mandviwala placed fake notes worth Rs 5,500 in front of all those present in the meeting.

The president of the State Bank, who attended the meeting, was unable to recognize the counterfeit notes, and the chairman of the committee asked: "What would happen to an average person if he could find a counterfeit 5,000 bill? » This problem is increasing as counterfeit notes spread through banks and counterfeit notes are present in banking systems. Salim Mandviwala said I had twenty counterfeit notes worth 1,000.