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Dhaka to change colour, size of currency notes

The central bank has decided to change the colour and size of currency notes in a bid to halt note forgery rampant in the country.

india Updated: Mar 13, 2006 14:56 IST

Bangladesh Bank, the central bank of the country, has decided to change the colour and size of currency notes, in a bid to halt note forgery rampant in the country.

"The central bank will do this job by April this year," a senior bank official confirmed on Monday.

He said the proposal for the changes had been sent to the Finance Ministry, which put the proposal before the Parliamentary Standing Committee meeting on Sunday.

The standing committee gave clearance to the central bank to take appropriate steps to stop the forgery and ease the problems of the people with fake notes, said the official.

He added that many people had become victims of currency forgery and were being harassed by the police.

People often fell prey to the forgery due to the similarity between the real and fake notes, and most illiterate people could not differentiate between the two.

The central bank will change the size of currency notes of 500 taka, 100 taka and 50 taka.

The official said the Parliamentary Standing Committee members would check the security measures at the printing press this month.

The central bank will also procure some modern equipment to sort out the notes soon, the official stated.

The standing committee has also suggested a detailed study on the forgery and asked the law enforcing agencies to be alert and arrest the forgers.

Press reports had earlier said that currency notes were being forged across the border in India and flooding the Bangladesh money market.

Police, however, recently detected some syndicates after they arrested six forgers in the capital and southeastern Chittagong, the second largest city of Bangladesh. They also seized money forgery equipment from the city.

First Published: Mar 13, 2006 14:54 IST