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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.

DSM/Hb