State ranks 4th in seizure of fake currency


Reported by Kapil Dave in expressindia.com on 14 sept 2012
State ranks 4th in seizure of fake currency - Express India

Gandhinagar Going by the number of FIRs registered in connection with seizure of counterfeit currency, Gujarat stands fourth among the states, an RTI query has revealed.

Between 2009-10, over 480 instances of seizures were reported from the state, which is slightly less than those reported in Andhra Pradesh, Maharashtra and Uttar Pradesh, according to information given by the Reserve Bank of India (RBI) to a New Delhi-based RTI activist, Subhash Chandra Agarwal, recently.


A total of 238 FIRs were registered in Gujarat in 2009 and fake notes with face value of Rs 1.1 crore were seized. In 2010, there were 244 FIRs and counterfeit currency with face value of Rs 1.09 crore was seized.


During the same period, the highest number of complaints were registered in Andhra Pradesh (622), followed by Maharashtra (564 FIRs) and UP (544).


According to RBI’s data, most of the fake notes were of Rs 1000, Rs 500 and Rs 100 denominations.


On Wednesday, the state police had seized fake currency worth a face value of Rs 26.18 lakh.


Major sources of the fake currency in circulation in Gujarat are said to be Angadia services, which ferry crores of rupees in cash every day.