Patna: The Government of Bihar has directed banks located near the India–Nepal border to install note-sorting machines as part of a broader effort to curb counterfeit currency and financial fraud.
The directive was issued during the 40th meeting of the State Level Coordination Committee (SLCC), chaired by chief secretary Pratyaya Amrit at the Old Secretariat in Patna on Wednesday.
Senior officials from the finance department and the Reserve Bank of India attended the meeting, where multiple issues related to illicit financial activities were reviewed.
Focus on counterfeit currency and border surveillance
Officials said note-sorting machines would be made mandatory at bank branches in border areas to detect fake currency more effectively. The chief secretary also called for enhanced surveillance along the India–Nepal border and the establishment of additional currency exchange centres to facilitate legitimate transactions.
Regular review meetings were also emphasised to improve transparency and strengthen the functioning of cooperative banks.
Crackdown on illegal deposit schemes
The meeting reviewed the implementation of key laws, including the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019, and the Bihar Protection of Interests of Depositors (BPID) Act, 2002.
The Economic Offences Unit was directed to take prompt action against entities found violating these provisions.
Authorities said an FIR has been registered against Purnodaya Nidhi Limited, while illegal loan apps such as Nitrofin Financial have been taken down. Other entities, including Samraddh Bestwin Micro Finance, are under surveillance.
RBI issues public advisory
The RBI’s regional director, Sujit Kumar Arvind, said genuine bank calls would now originate from numbers beginning with “1600”, helping customers identify legitimate communication.
He also advised that official bank website links would end with “.in”, enabling users to distinguish them from fraudulent websites.
Use of technology to detect fraud
Officials highlighted the use of the Digital Payments Intelligence Platform (DPIP), which uses artificial intelligence to detect suspicious transactions in real time and flag potential fraud.
Awareness campaigns on financial fraud are being conducted through social media, radio and print, including content in regional languages such as Maithili and Bhojpuri.
Call for coordinated action
Concluding the meeting, the chief secretary stressed the need for better coordination and information sharing among stakeholders to protect public deposits and strengthen financial security across the state.
