Fake Currency

The Mumbai Police have arrested a 31-year-old farmer and seized from him 16,000 fake currency notes of Rs 500 denomination with the face value of Rs 80 lakh in suburban Powai, an official said on Wednesday. The seizure was made by the crime branch on Monday, he said. "The crime branch got a tip-off that a gang was active in circulating fake notes. A trap was laid and the accused was nabbed. Police seized 160 bundles of Rs 500 fake currency notes from him," the official said. During the probe, it was found that the accused farmer wanted to become rich in a short time and hence he was indulging in this. It is being ascertained how many fake notes he circulated in the market. The accused was arrested under relevant sections of Indian Penal Code (IPC), including forgery and planning. He was produced in a court, which remanded him in police custody till January 4. More persons are likely to be arrested and further investigation is underway, the official added.

Fake currency notes, with face value of crores of rupees are being caught every year, indicating an increase in their circulation in the country

Fake currency, terror financing and black money are three evils and are like 'Jarasandha' (an antagonist in Mahabharat) and should be cut into pieces, the Centre told the Supreme Court on Monday while opposing the pleas challenging the 2016 demonetisation exercise. Attorney General R Venkataramani, appearing for the Centre, submitted before a five-judge Constitution bench headed by Justice S A Nazeer that the government is duty bound to address the three evils. "They (petitioners) have said we should have conducted studies before demonetisation. For more than a decade, central government and the Reserve Bank of India have been looking at the three problems (fake currency, terror financing, black money)... They are like Jarasandha. You have to cut it into pieces. If you don't cut it into pieces, it will always be alive," he said. Venkataramani said judicial review of an economic policy may be restricted to where the court may only determine if there is a rational nexus with the objec

Bank customers in Amethi were in for a major shock after an ATM started dispensing counterfeit currency, in Rs 200 denomination, on withdrawal

This case was initially lodged with the Bihar Police in 2019 and later on the NIA took over the probe

Fake notes of Rs 2,000 increased by 55% in 2021-22 over the previous fiscal year

Fake currency notes worth Rs one crore have been deposited in various banks which then deposited the same in the Reserve Bank of India

The case was registered by the NIA on March 12 this year, based on a seizure made by the Directorate of Revenue Intelligence (DRI) of counterfeit Indian paper currency notes of face value Rs 4.01 lakh

A mobile app has been launched, which allows users to see features of new Rs 500 and Rs 2,000 notes

The Income Tax department has been alerted about the seizure

Real notes have features such as watermarks, raised printing and colour-changing ink

Rs 4 lakh in notes of different denominations recovered; printer, scales and cutter seized

The BSF officials got the information from a fake note trafficker Umar Faruk

Reports say that he has been jailed for over three years for printing fake Singaporean currency notes in Singapore

While the government is trying to curb the menace of black money, India continues to grapple with fake currency coins/notes

To avoid long queues at toll plazas Pan India, the government today asked them to accept the old Rs 500 and Rs 1,000 currency notes