Rs 400-cr worth counterfeit notes in circulation in India
Posted on: 12/May/2016 11:10:17 AM
It has been estimated that Rs 400-cr worth counterfeit notes are in circulation in India. It has been made known that there are 250 counterfeit notes in every 10 Lakhs notes. Every year around Rs 70 Crores counterfeit notes circulated in the market are confisticated.
These shocking revelations are part of the study made by the Indian Statistical Institute (ISI) Kolkata. The Government has also accepted the studies. Indian Intelligence Agencies say that this kind of economic terrorism unleashed to destabilize the Indian economics.
The study has further revealed that the detection rate of fake 100 and 500 rupee notes were found to be about the same and higher than the detection rate of 1000 rupee notes by about 10 percent. Counterfeit 1,000 rupee notes seized comprise about 50 percent of the total value.
On an investigation done by NIA, it has come to known that Pakistan plays a big role in circulating the counterfeit notes. This has been done to help the terrorist organizations.
NIA inspector general Alok Mittal has mentioned that in the year 2015 some 9-10 cases have come to the notice where counterfeit currencies have come by sea or air from Pakistan.
