Currency – Ngultrum Notes

Topics coverage Currency background Clean Note awareness Note Refund aspects Counterfeit Notes Security features of the Notes

Background on Currency Currency Note issuance Notes available - Nu.1, Nu.5, Nu.10, Nu.20, Nu.50, Nu.100, Nu.500 & Nu.1,000 New Notes available at the RMA & Commercial Banks New series & old series Notes in circulation Notes & Coins in circulation – Nu.5.44 billion as on

Clean Note Policy Objective – durability & increase the life of the currency note No stapling on notes No writing/scribbling on notes Tearing/crumpling of notes not permissible ATM usage Soiled Notes Notes setting into fire Cost of printing/replacement very high

Note Refund by RMA & Commercial Banks Mutilated/torn/burnt/defaced notes are exchanged at face value Note refund subject to certain criteria: Torn note but undivided larger piece should be more than 60% intact – full value refund Torn note piece of near 50% - full value refund Torn note into smaller pieces – no refund Burnt notes in fire accident (special case)

Full Value Refund

PAY HALF DATE & SIGN Half Note – Full Value Refund PAY HALF DATE & SIGN

Burnt Note – Full Value Refund (Speical case)

Counterfeit Counterfeiting - a part of the system Experience – approx. 30 pieces in a year Mostly Nu.100 Notes have high security features to deter counterfeiting of notes Currency Verifier, UV light, Sorting Machines Print & paper quality

Security features on Notes Intaglio microlettering Embossed feature Embedded security thread 3 dimentional mould-made watermark Peak showing denominational figure Iridescent feature Recognition feature for the blind (embossed)

Security features on Notes

Intaglio-Micro Text Line

Security Thread

Windowed clear-text thread

3-Dimensional mould-made Water mark

PEAK®(Printed and Embossed Anti-Copy Key)

Iridescent Feature

For further information, visit RMA website rma.org.bt Tashi Delek