Rise in flow of counterfeit currency notes in India

Tirupati, Sept 18 (KMS): The Indian states of Maharashtra, Bengal, Gujarat and Andhra Pradesh reported fake currency seizures of the highest kind in the country last year as per data released by the National Crime Records Bureau (NCRB).

Maharashtra topped the list with the seizure of 6,99,495 such notes, followed by West Bengal with 24,227, Gujarat with 20360 notes and Andhra Pradesh with 17,705 in 2020.

The most alarming was the rise in the flow of counterfeit currency notes in the denomination of Rs 500 (new), which increased to 11,102 last year from 9,266 in 2019; 3,061 in 2018 and 1,696 in 2017. In all, about 4,241 notes were in the denomination of Rs 2000; 350 were in old Rs 500 denomination; 752 in Rs 200 denomination; 580 in new Rs 100 denomination and 679 in new Rs 50 denomination.

An official attributed the rise in seizures and arrests to the heightened surveillance by the police.