Note-sorting machines must for banks near Nepal border: CS

Patna: Chief secretary Pratyaya Amrit on Wednesday issued instructions aimed at curbing counterfeit currency and illegal financial activities, with a focus on mandatory installation of note-sorting machines at banks located near the India-Nepal border.

Amrit was chairing the 40th State-Level Coordination Committee, which was attended by senior officials, including additional chief secretary (finance) Anand Kishor; special secretary (finance) Mukesh Kumar Lal, and RBI regional director Sujit Kumar Arvind.

Various agendas related to financial regulations, depositors’ protection and fraud prevention were reviewed in detail.

During the meeting, the CS directed that note-sorting machines be compulsorily installed in banks operating close to the India-Nepal border to effectively check the circulation of fake currency. He also ordered enhanced surveillance in border areas and called for the establishment of the maximum number of currency exchange centres to facilitate the public.

The functioning of cooperative banks in Bihar also came under review, with emphasis laid on holding regular review meetings to improve transparency and operational efficiency. The implementation status of the Banning of Unregulated Deposit Schemes Act, 2019 and the Bihar Protection of Interests of Depositors Act, 2002 was assessed, and the Economic Offences Unit was instructed to take swift action against entities found guilty of violations.

RBI regional director Sujit Kumar Arvind informed the offcials that genuine calls made by banks will now originate from numbers beginning with “1600”— a move intended to help people identify authentic communication and avoid fraud. He also said official bank website links must end with “.in”, enabling the public to distinguish genuine websites from fake ones.

Officials said awareness campaigns against financial frauds are being continuously carried out by the finance department and RBI through social media, newspapers and radio jingles in Maithili and Bhojpuri. RBI also shared information on the Digital Payments Intelligence Platform, an AI-enabled system capable of detecting fraud in real time and flagging suspicious entities.

The meeting was informed that an FIR has been registered against Purnoday Nidhi Limited. The cyber cell has removed illegal loan apps such as Nitrofin Financial, while entities including Samraddh Bestwin Micro Finance are under surveillance.

Concluding the meeting, the chief secretary directed all departments and agencies to strengthen coordination and information sharing to ensure safety of public deposits across the state.
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