Fake Currency

Investigative Agencies in India are alarmed by the infiltration of fake currency notes especially in South India. These notes are flooding in the country and there is no difference between the real notes. Educated youths from Andhra Pradesh and Tamilnadu are involved as couriers. The countries which lie in the East of India like Nepal, Bangladesh and Malaysia are not exempt as these notes are being pumped in through air, land and sea and pose a serious issue to debacle our economy.

The currency note of Rs 500 is mostly forged. It was easier to detect fraud earlier however; as these forgers have attained high level of sophistication it is difficult to detect such notes.  As per RBI (Reserve Bank of India) forged notes can be recognized as the notes are thick and not crisp. If the note is photocopied the color and print look faded, intalagio would be missing in counterfeit notes and the security band would be rough with irregular number panel and smaller digits. RBI has also apprised banks of seizure of fake notes of Rs 1,000 face value in the two series 2QA and 8AC.  Today, forged notes Vigilance Cells are present in the head offices of all banks and every layman is informed about such notes via print and electronic media. CBI (Central Bureau of Investigation) has also appointed a nodal agency to monitor investigation of such fake notes.

Fake notes new road to terrorism?

Introduction of such notes in the country is also being termed as economic subversion.  Fake notes racket is being carried out by using the network of underworld kingpin not only in India but also in Bangladesh, Sri Lanka and Nepal in close association with different terror outfits.  At the political front there is Pakistan sponsored terrorism and in the economic front there is a supply of fake Indian currency notes inside the Indian borders to damage the Indian economy.  Intelligence officials quote, that ISI uses terrorist groups like Lashkar-e-Tayyeba, Jaish-e-Mohhammad and Harkat-ul-Jihad-al-Isalm to smuggle and circulate counterfeit notes in India. States like J&K, Punjab, and Rajasthan along with West Bengal make entry points for such acts. Uttar Pradesh border with Nepal is another route for the inflow of currency.   Indian laborers who work in Dubai are prime targets who deliver cargo to India and are in need of money to purchase return tickets.

Now, spreading like a virus in India the ATM’s are also not safe and bank’s staff involvement cannot be fully denied.  The value of such currency has gone up by 183.14 per cent in the last one year and the value of fake notes detected in the year stood at Rs 15.57 crores as compared to Rs 5.49 crores last year. Only, a small percentage of counterfeit currency is seized and an estimate of two lakh fake notes is in circulation in the country.

Steps taken:

It is utmost important that fake notes are detected as soon as they enter the banking channel.  It is said that the best way to control circulation of these notes is to stop the process of manufacturing currency paper and ink. The finance ministry has been asked to set up a new 12,000 MT capacity paper mill in India in collaboration with leading foreign paper manufacturers. RBI is also looking out for various measures to replace the paper notes by “polymer notes” along with Australia and a pilot project has to be initiated.  The notes would be more durable and will have a protective coating to prevent absorption from moisture.

To detect fake notes banks have been asked to install note sorting machines (NSM’s) at bank branches to detect counterfeit notes.  RBI committee constantly upgrades security features on currency and they believe that the masses should be educated on various security features.  Normally, these notes do not reach the banks as they normally return the fake notes due to the fear of arrest.  Moreover, banks are planning to conduct audits and frame contingency plans to combat natural calamities to terrorist activities. Also, the circulation of these notes destabilizes the country’s economy and encourages terrorist activities.

Thus, the priorities would be: to ensure that fake notes are promptly detected, security features to be constantly upgraded, education amongst the public, cash storage and handling to be strengthened and filing FIR by banks in case fake note are found.

 

99 thoughts on “Fake Currency

  1. zbawienie

    I really enjoy examining on this website , it contains superb posts . “Dream no small dreams. They have no power to stir the souls of men.” by Victor Hugo.

    Reply
  2. cheap tiffany jewelry

    This is really interesting, You are a very skilled blogger. I’ve joined your rss feed and look forward to seeking more of your excellent post. Also, I have shared your web site in my social networks!

    Reply
  3. Manmohan

    Great blog you’ve got here.. It’s difficult to find high quality
    writing like yours these days. I truly appreciate people like you! Take care!!

    Reply
  4. Jasbir

    This is a great tip especially to those new to the blogosphere.
    Simple but very precise information… Many thanks for sharing this one. A must read post!

    Reply
  5. D.C. Garg

    , I am so happy I found your weblog. I’m really appreciating the commitment you
    put into your site and in depth information you offer. This has been so particularly generous
    with people like you to supply openly all that most of us would’ve offered for sale for an e book
    in order to make some dough on their own, even more so seeing that you could possibly have tried it if you ever decided.

    Reply
  6. Rajat

    I’ve learn several just right stuff here. Certainly price bookmarking for revisiting.
    I wonder how much effort you set to create such a fantastic informative web site.

    Reply
  7. Rajeev

    I like the valuable information you provide in your articles.
    I will bookmark your blog and check again here frequently.
    I am quite certain I will learn lots of new stuff right here! Best of luck for the next!

    Reply
  8. Prakash

    Hi there to all, how is the whole thing, I think every one is getting more from
    this web site, and your views are pleasant designed for new users.

    Reply
  9. Mahesh

    The website is bright, clean, quick, easily navigable and all the links
    seem to work well. Moreover, the contents here in blog shape is really wonderful.

    Reply
  10. G.P. Kalra

    Very great post. I simply stumbled upon your weblog and wanted to say
    that I have really loved browsing your weblog posts. In any case I will
    be subscribing on your rss feed and I hope you write once more very soon!

    Reply
  11. Ashwani

    Hello very cool website!! Man .. Excellent .. Amazing ..
    I will bookmark your website and take the feeds additionally.
    I am glad to search out numerous useful information here within the publish,
    we need work out extra techniques in this regard, thank you for sharing. . . . . .

    Reply
  12. Mahesh

    Hi there everyone, it’s my first go to see at this site,
    and piece of writing is genuinely fruitful in favor of me,
    keep up posting these types of content.

    Reply
  13. Vivek Beri

    Excellent goods from you, man. I have understand your stuff previous too and you’re just too magnificent.

    Reply
  14. G. sachdeva

    Thank you for some other magnificent post.
    Where else could anybody get that kind of information in such a perfect manner of writing?
    I have a presentation subsequent week, and I’m on the look for such information.

    Reply
  15. Vijay Kumar

    An intriguing discussion is definitely worth comment.
    I do believe that you ought to publish more on this issue, it may not be a taboo matter but typically people don’t speak about such topics.
    To the next!
    Cheers!!

    Reply
  16. B.S. Kochar

    I’m very happy to find this web site.
    I wanted to thank you for your time due to this fantastic read!!
    I definitely liked every little bit of it and i also have you saved to fav to see new information in your site.

    Reply
  17. Umesh

    Just wanted to say how much we appreciate the tremendous amount of hard work and effort you all put in to producing this website.
    It is a great credit to everyone and I am sure will be a great success.

    Reply
  18. Trilok

    fantastic put up, very informative.
    I wonder why the opposite experts of this sector don’t understand this.
    You must continue your writing.
    I’m confident, you’ve a huge readers’ base already!

    Reply
  19. M.K. Sinha

    Very great post. I simply stumbled upon your weblog and wanted to say that I have really loved browsing your weblog posts.
    In any case I will be subscribing on your rss feed and I hope you write once more very soon!

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *