Stay vigilant to curb menace of fake currency: Patnaik


SLSC meeting for UT of Ladakh held


LEH: The first State Level Security Committee (SLSC) meeting for the Union Territory of Ladakh was held through video conferencing under the chairmanship of Umang Narula, Advisor to Lt. Governor of Union Territory of Ladakh and under the aegis of Kamal P. Patnaik, Regional Director, Reserve Bank of India, UT of Jammu & Kashmir and Ladakh.
S.S Khandare, Additional Director General of Police, UT of Ladakh, senior officials of Reserve Bank, senior government officials of various Govt Departments and commercial banks were present in the meeting to discuss various issues regarding security during the movement of currency and other issues related to banking needs of public in the Ladakh region.
In his opening remarks, Patnaik, Regional Director, RBI, highlighted the need to ensure adequate quantity and quality of currency notes by the banks to facilitate smooth business transactions.
He also stressed on the need to upgrade and maintain ATM infrastructure by ensuring that all kinds of currency are dispensed through ATMs for public convenience. He emphasized on the need for detection of fake currency which is a real threat to the economic development of the country. He requested that all agencies should make coordinated efforts and stay vigilant to curb the menace of fake currency. At the outset, Umang Narula, Chief Secretary and Advisor to the Lt. Governor, UT of Ladakh in his key note address focused on the need to open more bank branches and ATMs in the remotest regions of Ladakh as nearly 40% of the region has no banking facility.
He gave a thrust on the use of new technologies for digital transactions, increasing the availability of Indian currency in view of the expected growth of tourism and ensuring proper detection of fake Indian or foreign currency which can hinder growth prospects.
He also mentioned about government plans to establish more petrol pumps along the road highway network in the Ladakh region and suggested these can be suitable ATM sites for the convenience of travelers.
He also requested Reserve Bank of India to create more awareness against the fictitious offers by various unincorporated bodies which can bring financial losses to the general public.
Khandare highlighted the issue of detection of fake Indian currency notes and training thereon to bankers and concerned govt officials. He reiterated that Ladakh Police is committed for providing security for treasure movement and security at the currency chests.
Shekhar Chaudhary, DGM, RBI stressed on various issues like ensuring proper security and guarding arrangements at the currency chests and rectification of deficiencies observed during inspection of currency chests by RBI.
He requested the bankers to ensure that all the security gadgets at currency chests are in the working condition. He also highlighted the need to increase the digitalisation of various banking services in the UT of Ladakh.
He impressed upon the need to create awareness among public regarding the fictitious offers from unincorporated bodies and also regarding online frauds.


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