Special force likely for security to banks

PATNA: The state government is likely to create a special police force to extend security support to banks and nominate nodal police stations to tackle the menace of forged currency notes.

The decisions, among others, were taken at the State Level Security Committee meeting, convened by RBI regional director G Mahalingam here on Monday.

While home secretary Amir Subhani chaired the meeting, other participants included top government officials as well as officials of the RBI and banks. They felt that overall security situation for the banks has improved.

In another development, Mahalingam cautioned people against companies/entities mobilising deposits offering high rates of interest/return in the guise of Cumulative Convertible Preference Shares or even Cumulative Redeemable Preference Shares.