Fake Currency - Parliament Question

Press Information Bureau 
Government of India
Ministry of Finance 

16-December-2011 18:53 IST

Fake Currency

Reserve Bank of India (RBI) has reported that data on fake notes detected by the 'banking system' (in pieces ) for the period from April, 2010 to September, 2011   is  as under:

Year	Rs.10	Rs.20	Rs.50	Rs.100	Rs.500	Rs.1000	Total (Pieces)
April, 2010 to March, 2011	139	126	10,962	124,219	246,049	54,112	435,607
April, 2011 to Sept. 2011	40	158	6156	65,782	152,930	39,216	264.282

RBI has further reported that the data on source-wise detection of counterfeit notes during the period April 2010 to September, 2011 is as under:

Year	Detection in pieces by RBI	Detection in pieces by banks	Total detection in pieces
April 2010 to March 2011	45,235	390,372	435,607
April 2011 to September 2011	19,104	245,178	264,282

To address the multi-dimensional aspects of fake Indian currency notes (FICN) menace, several agencies such as the RBI, the Ministry of Finance, Ministry of Home Affairs(MHA), Security and Intelligence Agencies of the Centre and States , Central Bureau of Investigation (CBI) etc. , are working in tandem  to thwart the illegal activities relating to FICNs. The works of these agencies are periodically reviewed by a nodal group set up for this purpose. In this context, at the functional level, the CBI has also been declared as the nodal agency for co-ordination with the States and, the Directorate of Revenue Intelligence has been nominated as the Lead Intelligence Agency for smuggled FICNs.

        Further, one special  FICN Co-ordination Group   has been formed  in MHA to share the intelligence/information  amongst the different  security agencies of the State/Centre to counter the menace of circulation of fake currency with in the country , with CBI being the nodal agency.

         National Investigation Agency (NIA) has been empowered by the National Investigation Agency Act to investigate and prosecute such offences. The Government has also constituted a Terror Funding and Fake Currency Cell in the National Investigation Agency (NIA) in 2010 to focus on investigation of Terror Funding and Fake Currency Cases. The security features in the High Value Currency notes are being constantly upgraded by RBI.   RBI has also strengthened the mechanism for detection of counterfeit notes by the Banks.

This information was given by the Minister of State for Finance, Shri   Namo Narain Meena in written reply to an Unstarred Question in Lok  Sabha today

Source : PIB