A high level group constituted by the Reserve Bank of India has recommended enhancing security features on currency notes and installation of notes-sorting machines among other steps to counter the rise in circulation of fake notes.
The central bank might ensure that the new series of banknotes with more robust security features be introduced as early as possible.
If the high security notes introduced in 2015 were kept in the system, the pain due to demonetisation can be ameliorated to a certain extent. But unfortunately, such thought process have no place in the hasty demonetisation decision.
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