Identify Fake Rs. 5000: Find out how to tell if a Rs. 5,000 note is fake! The State Bank of Pakistan made a video to show you. They did this because the Senate Standing Committee on Finance was worried about too many fake notes going around. However, the video, initially posted by SBP on YouTube in 2018, provides step-by-step guidance on recognizing the important security features of the Rs. 5,000 note and detecting fake Rs.
Here’s the full video:
Fake currency circulation:
Following concerns expressed in a recent Senate Standing Committee on Finance meeting, the State Bank of Pakistan has introduced an initiative to assist citizens in recognizing legitimate Rs 5,000 currency notes. However, this decision was prompted by Committee member Kamil Ali Agha, who presented counterfeit notes during the meeting, emphasizing the urgent problem of fake currency circulation.
SBP Educational Video
The State Bank has issued an educational video that outlines the unique characteristics of genuine Rs 5,000 notes. The video provides guidance to citizens on identifying authentic currency to reduce the prevalence of counterfeit notes in the market.
Global Implications of Counterfeit Currency:
In the Senate committee gathering, Dr. Inayat Hussain, Deputy Governor of the State Bank, underscored that counterfeit currency poses a challenge not just in Pakistan but on a global scale. However, He pointed out instances of counterfeit dollar notes circulating worldwide and drew attention to the lack of a foolproof system to deter the production of fake currency. During the meeting, Committee member Kamil Ali Agha surprised attendees by presenting counterfeit Rs 5,000 notes. Even after displaying the fake notes to the Deputy Governor, their authenticity remained unrecognized, raising worries about the calibre of counterfeit currency in circulation.
Tackling the Challenge of Counterfeit Currency:
In response to the committee’s apprehensions, Deputy Governor Dr. Inayat Hussain affirmed the State Bank’s dedication to enhancing regulations concerning currency notes. He stressed implementing measures to tackle the longstanding problem of counterfeit currency, with a comprehensive briefing scheduled for the committee in the coming days. Senator Salim Mandviwala urged the State Bank to take decisive measures to curb the entry of counterfeit notes. Expressing frustration with the persistent issue, he highlighted the years-long circulation of fake currency, noting that counterfeit notes have infiltrated the financial system through banks.
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