Govt blames Pak for smuggling fake notes

India blamed Pak intelligence agencies for flooding the market with counterfeit currency notes.

Updated: Aug 04, 2009, 19:48 PM IST

New Delhi: India on Tuesday blamed Pakistani intelligence agencies for flooding the market with counterfeit currency notes even as it strengthened vigilance to check smuggling of fake notes into the country.
"As per intelligence reports, involvement of Pak
officials suspected to be working for intelligence agencies of
Pakistan has been revealed," the minister of state for
finance, Namo Narain Meena, told the Rajya Sabha.

He said the government had taken a lot of measures to
curb circulation of fake currency in the country, including
stepping up of vigilance by the Border Security Force and
customs authorities to prevent smuggling of fake notes.

Also, a high-level committee headed by the union home
secretary and comprising officials from central agencies and
other senior officials has been constituted to monitor and
chalk out a strategy to check the influx of fake currency.

Forged Note Vigilance Cells have been incorporated in the
head offices of all banks and the common man is being informed
through print and electronic media, the minister added.

While the CBI has been appointed as a nodal agency by the
government to monitor investigation of fake currency notes,
the RBI has strengthened the mechanism for detection of
counterfeit notes.

Bureau Report