Khandu urges RBI to ensure detection of fake currencies

Arunachal Pradesh Chief Minister Dorjee Khandu has asked to keep note-sorting machines for all banks in the state to check the increasing cases of circulation of fake currency notes.  Raising this issue during a meeting with Shyamala Gopinath, Deputy Governor, Reserve Bank of India (RBI), at Itanagar last evening, Mr Khandu lamented the fact that even the banks in the state have been mistakenly issuing fake currency notes in absence of proper note-sorting machines and devices. He said the issue needs to be seriously tackled to safeguard the nation’s economy. Expressing concern over the shortage of staff in the banks, he said it is causing severe inconvenience in the customers who stands in long queues to get their work done. The Chief Minister further suggested for increasing the strength of the staff in the banks and requested to conduct recruitment in the state so that more and more local youths could participate in the procedure and get job in banks. During the discussion, the Deputy Governor informed about unscrupulous activities of unincorporated bodies operating in the state which needed to be content immediately by enacting a Protection of Interest of Depositors (in Financial Establishments) Act, setting up of Economic Offences Wing and Framing of Rules under Chit Fund Act, 1982. She said the state government being the administrator under the money Circulation 1978 can authorise an official to initiate section against such bodies. ''Out of 34 unbanked blocks in Arunachal Pradesh, 11 have been selected for opening of bank branches which would be opened by March 2012,'' the Deputy Governor revealed.  She, however, requested the state government to put in place suitable infrastructure and ensure that necessary amenities in terms of road, telephone, electricity, premises and connectivity are in place. She further highlighted the need to implement the Crop Insurance scheme for the farmers of the state for which the union government would be providing 50 per cent and the state government needs to provide the rest. Responding to the suggestion, Mr Khandu agreed to issue appropriate directives to the departments concerned to take up the plan immediately in view of the state facing regular flood problems every year wherein instance of crop damages have become a regular feature. Apart from the regular discussion, issue on setting up of Rural Self Employment Training Institute (RSETI) was also discussed. The RBI sought land for setting up of the RSETI in all districts to which the Chief Minister assured to provide all possible assistance.