NEWS
• Regarding the Fake Currency circulation in the country.
• Few facts related to it –
the measures taken by the
Government.
Fake Indian Currency note
• Refer to counterfeit currency notes circulated in the Indian economy.
Reserve Bank of India’s annual report for 2020-21
• Overall FICNs in circulation – decreased as compared to
the previous year.
• Fake banknotes of Rs. 500 denomination increased.
∆ Increase of 31.3 per cent – compared to previous year.
• Decline in counterfeit notes detected in other denominations.
• Total of 2.09 lakh fake banknotes of all denominations were detected – significantly down from 2.97 lakh fake notes
detected during 2019-20.
MEASURES Taken BY THE
GOVERNMENT
• Terror Funding and Fake Currency
- constituted in the National
Investigation Agency.
Conducts focused investigation
of terror funding and fake
currency cases. - • In 2018 – advisory on terror
financing – issued to States/
Union Territories.
• In 2019 – Guidelines issued – to States/ Union
Territories – investigation of cases of high
quality counterfeit Indian currency notes.
• Training programmes – conducted for the State
Police personnel.
Fake Indian Currency Notes – source of Terror
Financing •
FICN Coordination Group – Ministry of Home
Affairs – share intelligence information among the
security agencies of the states/centre.
Helps in countering the problem of circulation of
fake currency notes
• Government has Strengthened the provisions
in the Unlawful Activities (Prevention) Act,
- • Assists in combating terror financing by
criminalizing – circulation of high quality
fake Indian currency as a terrorist act.
Allows takeover of any property that
are used for terrorism
• Increased security at the international
borders – to ensure no external forces
disturb the internal security
Track2Training 