3 to 4% of currency in country fake: RBI

SHILLONG: Nearly three to four per cent of the currency circulating in the country are fake, a top RBI official said on Friday.

However, the issue is "not alarming" and the central bank has adopted a multi-pronged approach to tackle the menace, RBI deputy Governor KC Chakraborty told media.

Noting that the menace is a global threat, he said the Centre has decided to take up the issue with European countries, including Britain, to find a common solution.

Most of the counterfeit notes are originating from Pakistan, Chakraborty said, adding north Eastern states and other border states are more vulnerable to the menace.

"We are coordinating with security and intelligence agencies in these places. RBI has launched an awareness programme to help people detect fake notes and report them to security agencies," he said.

The RBI official underlined the need for common people to have improved access to banking facilities which could also help deal with the menace.