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December 8, 2009

Govt agencies still working on ways to check counterfeit currency menace

     New Delhi: The Government on Tuesday said that several agencies were working in tandem to address the multi-dimensional aspects of the problem of fake indian currency notes (FICN). "To address the multi-dimensional aspects of the FICN menace, several agencies such as the RBI, the Ministry of Finance, the Ministry of Home Affairs, the Intelligence Agencies of the Centre, the Central Bureau of Investigation (CBI), etc. are working in tandem to thwart the nefarious activity related to Fake Indian Currency Notes," said the Union Minister of State for Home Affairs, Ajay Maken stated in a written reply to a question in the Lok Sabha on Tuesday. "Apart from the above, the State Governments have been asked to set up dedicated and well-equipped Cell under senior level supervision to comprehensively monitor and deal with organized crimes including FICN, besides other administrative measures. Further the offences under IPC relating to counterfeit currency have been includes in the Schedule to the National Investigation Agency Act, thereby empowering the National Investigation Agency to investigate and prosecute such offences. The issue has also been taken up consistently with the neighbouring countries in the bilateral fora," Maken further stated in his reply. Available inputs indicate that high quality Fake Indian Currency Notes (FICNs) are printed in a neighboring country and pushed into India through neighbouring countries. Such inputs also indicate that, inter alia, activists of Lashkar-e-Taiba (LeT), a terrorist outfit, organized criminal networks and syndicates are reportedly involved in infusion and circulation of FICN in the country.
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