TaxTMI 
TaxTMI 
Fake Currency
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....ake Currency <br>News and Press Release<br>Dated:- 16-12-2011<br><BR>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: Year Rs.10 Rs.20 Rs.50 Rs.100 Rs.500 Rs.1000 Total ....
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....(Pieces) April, 2010 to March, 2011 139 126 10,962 124,219 246,049 54,112 435,607 April, 2011 to Sept. 2011 40 158 6156 65,782 152,930 39,216 264.282 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: Year Detection in pieces by RBI Detection in pieces by banks Total detection in pie....
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....ces April 2010 to March 2011 45,235 390,372 435,607 April 2011 to September 2011 19,104 245,178 264,282 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 ....
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....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 smuggle....
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....d 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 an....
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....d 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 Ba....
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....nks. 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<BR> News - Press release - PIB....