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| Fake currency racket: Alive and Kicking | | | Abodh Sharma
Jammu, Jun 1: India's growing economic strength has become a nagging thorn in the flesh of its adversaries. Pakistan's notorious Inter services intelligence (ISI) continues to wage proxy war against India by patronising terror outfits and pumping in fake currency into India to destabilize its economy.
Jammu and Kashmir police have seized fake currency worth Rs 9,71,480 during the last year. This, however, was far less than Uttar Pradesh, which accounted for the largest chunk of about Rs 1.18 crore.
During the past 10 years, Jammu and Kashmir police has recovered fake currency with the face value of Rs 86.86 lakhs across the state and arrested 501 people in this connection. As many as 86,68,570 fake currency notes were recovered during the past 10 years and 501 people arrested in this connection, statistics of the state home department said. Besides this, police and security agencies have recovered 4,20,160 Pak currency notes, 7,951 Afghan currency notes and 2,49,982 currency notes of other countries during the period.
Sources within police divulge that the sleeper cells of the terror outfits are running fake currency racket in the state, luring in over ambitious youth. "The offer could be half the amount in original Indian currency for spending a specified amount in fake currency" disclosed a source. "Petrol pumps are the most favourite places where they try to pump in the currency as the payment at petrol pumps is made while on the trot," he added. While 500 and 100 denominations are in vogue, banks are now taking special care in identifying such currency so that it is not pumped in banking system. Though most banks in J&K are still relying on subjective distinguishing of the fake currency, RBI has instructed all banks to install ultra violet lamps in the branches to identify fake currency notes. However, it is still difficult for the commoners to identify fake currency. "I received a payment of Rs. One lakh from a bank the other day, but just after as I went to my bank to get the same money deposited, the clerk at the counter took out two notes of five hundred denomination and handed them over to me telling that they were fake" said a local businessman, who was in panic and chose to stay quite.
The menace is however not confined to a state or a region alone. Rs eight crore worth of fake currency has been seized across the country last year, which consisted of 3,03,989 fake notes out of which 1,79,620 were of hundred rupees denomination.
Gujarat followed UP with Rs 84.94 lakh, Maharashtra Rs 74.80 lakh, Andhra Pradesh 74 lakh and Karnataka Rs 65.27 lakh.
The depth and the width of the fake currency racket in India can be gauged from the fact that Lakshadweep is the only place in the country where there were no fake currency seizures last year.
A total of 1,307 people were arrested in connection with fake currency rackets with Andhra Pradesh topping the list with 190 arrests followed by Karnataka (151), Uttar Pradesh (135), Assam (128) and Punjab (110).
Meanwhile, Government of India is contemplating localizing material used in the making of currency notes such as paper, ink and machinery. India currently imports all the items used in the printing of currency notes, as the fake currency mafia has attained access to same material outside the country.
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