Press Information Bureau  

Government of India

Ministry of Finance

16-December-2011 18:53 IST

Reserve Bank of India (RBI) has reported that data on fake notes detected by the 'banking system' (in pieces ) for the period from April, 2010 to September, 2011   is  as under:

RBI has further reported that the data on source-wise detection of counterfeit notes during the period April 2010 to September, 2011 is as under:

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. The security features in the High Value Currency notes are being constantly upgraded by RBI.   RBI has also strengthened the mechanism for detection of counterfeit notes by the Banks.

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

Fake currency detection prompts coordinated agency roles and upgraded currency security measures to combat circulation. Detection of counterfeit notes by the banking system and by RBI across two reporting periods prompted a multilayered institutional response: CBI as the nodal agency for State coordination, DRI as Lead Intelligence Agency for smuggled counterfeit notes, and a special FICN Co-ordination Group in the Ministry of Home Affairs for intelligence sharing. NIA is empowered to investigate and prosecute such offences and hosts a Terror Funding and Fake Currency Cell. RBI is upgrading security features of high-value notes and strengthening bank detection mechanisms.