Circulation of Fake Currency Notes

Press Information Bureau

Government of India

Ministry of Finance

06-December-2012 17:37 IST

National Crime Records Bureau (NCRB) has informed that the total number of Fake Indian Currency Notes (FICN) seized and recovered in the years 2009-10, 2010-11 and 2011-12 has been as follow:-

In terms of the statistics provided by NCRB, as mentioned above, it is seen that the number of counterfeit notes detected in the country during the year 2011-12 was less than the year 2010-11.  However, the total value of these notes was more in the year 2011-12 than the year 2010-11.

To address the multi-dimensional aspects of the FICN menace, several agencies such as the RBI, Ministry of Finance, Ministry of Home Affairs, Security and Intelligence Agencies of the Centre and States, Central Bureau of Investigation (CBI) etc., are working in tandem, to thwart the illegal activities related to FICNs.  The work of these agencies is periodically reviewed by a nodal group (FCORD) set up for this purpose.  FCORD (FICN Coordination Cell) coordinates/shares all available information/intelligence and analysis on circulation/smuggling of FICN in the world.  At the functional level, the CBI has been declared as the nodal agency for coordination with the Sates and the Directorate General of Revenue Intelligence has been nominated as the Lead Intelligence Agency for the purpose.  National Investigation Agency (NIA) has been empowered to investigate and prosecute such offences to deal with this menace.  The government has also constituted a Terror Funding and Fake Currency Cell (TFFC) in NIA in 2010 to focus on investigation of Terror Funding and Fake Currency Cases.  Reserve Bank of India (RBI) has also strengthened the mechanism for detection of counterfeit notes by the banks

This was stated by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the  Rajya  Sabha today.

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