Fake currency being printed in neighbouring country: Govt

The government today said it suspects that fake Indian currency are being printed in a neighbouring country, but did not name the neighbour.

Last Updated: Apr 27, 2010, 17:55 PM IST

New Delhi: The government today said it
suspects that fake Indian currency are being printed in a
neighbouring country, but did not name the neighbour.

"Available inputs suggest that fake Indian currency notes
are printed in a neighbouring country and pushed into India
through neighbouring countries," Minister of State for Finance
Namo Narain Meena told the Rajya Sabha in a written reply.
He said customs field formations and the Department of
Revenue Intelligence officers are on alert to check the menace
of smuggling of fake notes.

"Close co-ordination and cooperation is being maintained
with other intelligence/enforcement agencies," he said.

In another reply, he said fake currency totalling Rs 2.46
crore were seized by police and recovered by RBI from January
to March, 2009.

Money Laundering: Replying to another query in the house,
Minister of State for Finance S S Palanimanickam said the
Directorate of Enforcement had registered 914 cases as on
February 28 this year under the Prevention of Money Laundering
Act, 2002.

Out of these, nine cases are pending trial in the
competent courts, he said, adding that no case has so far been
decided by the courts.

-PTI

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