Press Information Bureau

Government of India

Ministry of Finance

16-December-2011 18:56 IST

Reserve Bank of India (RBI) has reported that there were 25 complaints received in RBI regarding receipt of counterfeit currency notes through ATM during the period from 1.7.2008 to 31.10.2011 as detailed in the Annexure. All the complaints have been disposed in appropriate manner as indicated against each.

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.

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

Counterfeit currency coordination: interagency framework designates CBI nodal and NIA empowered to investigate and prosecute. RBI reported complaints of counterfeit currency notes dispensed through ATMs which were investigated and disposed. Multiple agencies coordinate FICN response: CBI is the nodal agency for State coordination, DRI is the Lead Intelligence Agency for smuggled FICNs, an MHA FICN Coordination Group facilitates intelligence-sharing, and the NIA is empowered to investigate and prosecute FICN offences with a dedicated Terror Funding and Fake Currency Cell.