No estimate regarding increase in FICN in circulation: Govt
There is no estimate about increase in circulation of fake Indian currency notes in the country, the Government has said.
New Delhi: There is no estimate about increase in circulation of fake Indian currency notes in the country, the Government has said.
"The Reserve Bank of India (RBI) has informed that they have no estimate regarding increase in counterfeit currency notes in circulation," Minister of State for Finance Namo Narain Meena told Rajya Sabha in a written reply yesterday.
To address the multi-dimensional aspects of the FICN menace, several agencies such as the RBI, Ministry of Finance, Ministry of Home Affairs, Security and Intelligence agencies of the Centre and States, Central Bureau of Investigation (CBI) etc, are working in tandem to thwart the illegal activities related to Fake Indian Currency Notes (FICN), he said.
"The Government has also constituted a Terror Funding and Fake Currency Cell (TFFC) in NIA in 2010 to focus on investigation of terror funding and fake currency cases," the Minister said.
In a separate response on whether the government is going to change structure and pattern of Indian currency, Meena said "Reserve Bank of India had been continually and intermittently receiving requests for incorporating photos of various personalities on Indian banknotes over a period of time through different modes".