NEW DELHI, FEB 18: Aiming to curb the spread of counterfeit 500-rupee notes through fool-proof printing technology, the Union Home Ministry has approached the Finance Ministry for an urgent meeting. If the North Block has its way, drastic measures such as polymer notes (as in Australia) and web printing mechanism (currently used in the United States and France), that makes counterfeiting almost impossible, would be brought in soon in the country.Seized of the problem being faced not only by the law enforcing agencies but by common people too, the Home Ministry recently conducted an extensive study. It has come out with a host of innovative recommendations for the Finance Ministry and the Reserve Bank of India (RBI). According to a senior North Block official who participated in the study a few days ago, ``The problem of fake 500-rupee notes is serious enough to affect our internal security. We have already approached the Finance Ministry and expect the brain-storming session any day now.''It is being felt that despite some efforts by the Reserve Bank of India to spread awareness about the counterfeit currency, mainly through few and far between newspaper advertisements, the message has yet to hit home. Officials hold that despite reminders to the RBI, such basic gadgets like ultra-violet lamps these can easily detect three-colour fluorescent fibre in a genuine note have not found their way even among the fraction of Indian banks.The Home Ministry has ruled out any attempt to demonitorise the existing 500-rupee note, since such an action could ``spread unprecedented panic nationwide''. But at the same time it has suggested a renewed public awareness campaign ``on a war footing''.The problem, point out officials, is two-fold: it overburdens the police and makes the general public the victims of wrongdoing not of their making. The law makes it amply clear that the accountability of the counterfeit note rests with the holder. A well near-impossible task, it's pointed out, since nobody is expected to keep record of each and every currency note in his possession. The net result is unchecked spread of panic.The polymer notes used in Australia, according to the Home Ministry's study, are impossible to copy. Similarly, the web printing technology being used in the United States and France could turn out to be an insurmountable barrier for those bent on faking them. But the officials are quick to add that the final nod has to come from the Finance Ministry.Another suggestion by the Home Ministry is to change the watermark portrayal of the Ashoka emblem in a 500-rupee note with Mahatma Gandhi's portrait. The commonest way to counterfeit a note is by photo-copying it on a hi-tech colour printer. Investigators realise that quick-set ink plays a crucial role in such methods, but the ink is used widely in Indian industry for a wide array of other, perfectly legal functions. The Home Ministry's study has recommended a close check on manufacture and distribution of quick-set ink to prevent it from reaching the miscreants.Last year, alerted by the menace of fake 500-rupee note, the Home Ministry had convened a meeting which was attended by the Central Bureau of Investigation (CBI), the Ministry of External Affairs, Finance Ministry and senior police officials of states bordering Pakistan and Nepal.Officials, however, point out that the situation seems to have aggravated over the past fortnight, necessitating quick and effective counter-measures.
