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Government has taken a number of steps to stop infiltration and circulation of fake currency notes which include stepping up of a vigilance by Border Security Force/Custom Authorities, setting up of a special units in the Central Bureau of Investigation exclusively for counterfeit currency notes, incorporation of special security features in high denomination notes, extensive campaign by RBI through electronic and print media to publicise the feature of the genuine currency notes, regular imparting of training to Government Officers on identification of fake notes, provision of suitable equipments in banks for detecting of counterfeit notes.
As per information received from the National Crime Record Bureau (NCRB) on recoveries/seizures made by banks and law enforcing agencies, circulation of fake currency notes have been noticed in all parts of the country including Bihar and North Eastern region. Fake Indian Currency Notes (FICN) are injected into circulation by local counterfeiters as well as by external agencies who smuggle fake currency notes into India through various routes. However, the quantity of FICN is miniscule as compared to the total volume of Indian Bank notes in circulation. Hence the question of creating the possible danger of a parallel economy in the country does not arise.
This information was given by Shri S.S. Palanimanickam, Minister of State for Finance in reply to a question raised by Shri Mangani Lal Mandal in Rajya Sabha today.
BSC/BY/DN-193/05
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