Fake currency worth Rs 6.87 crore seized in 2016: Data | India News

NEW DELHI: Counterfeit currency of face value Rs 6.87 crore was seized across the country until July 14 this year, of which 47,700 fake notes were in denomination of Rs 500 and 41,991 in denomination of Rs 1,000, as per NCRB data quoted by home ministry in reply to a question in the Lok Sabha.

The face value of total counterfeit currency seized in 2016 was Rs 14.16 crore and in 2015, Rs 14.81 crore.

In reply to another question, the home ministry on Tuesday said the demonetization of bank notes of Rs 500 and Rs 1,000 announced on November 8, 2016, had resulted in significant positive impact on most theatres of violence in the country.

“Since illegally paid cash forms the major chunk of terrorists’ funding, after the demonetisation, most of the cash held with the terrorists turned worthless. Demonetisation also led to instant extinguishment of Pak-printed high quality fake Indian currency notes. It also affected hawala operators,” minister of state for home Hansraj Ahir told the Lok Sabha.

The figure of Rs 6.87 crore counterfeit currency seized in the country, incidentally, does not reflect seizures in many key states like Bihar and Punjab. According to Ahir, this may be due to nil data or data not entered online by users.

According to Ahir, the elephant’s portion of the seizures so far this year were in Delhi (face value Rs 5.81 crore). In 2016, Delhi accounted for seizures of fake currency worth Rs 5.28 crore.

Seizures in West Bengal dipped to face value Rs 38,500 from 2.31 crore in 2016. In J&K, counterfeit currency seizures till July 14 this year carried face value Rs 34,000, against Rs 87,500 face value seized in 2016.

Ahir further informed the MPs that 227 FIRs relating to counterfeit currency were filed against a total 145 accused across the country till July 14 this year. In 2016, a total of 1,080 FIRs against 1,079 persons were filed.

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