Fake Currency Worth Rs 4.77 Crore Seized In Jaipur. Did Anyone Say Demonetisation Will End It?
But ground realities tell a different story.
Prime Minister Narendra Modi-led NDA government demonetised high value currency notes in November 2016, and among other things it was aimed to bring down the scale of fake notes in the system.
The sudden move that had brought the nation down to its knees, and which was later described by the then Chief Economic Advisor Arvind Subramanian as a ¡°draconian shock that hurt GDP growth¡±, was widely publicised by the ruling government as a move to curb the circulation of fake notes.
ANI
But ground realities tell a different story.
Rajasthan Police has just arrested two people and seized fake Indian currency notes worth over Rs 4.77 crore from their possession in Jaipur, news agency ANI reported.
The Crime Investigation Department (CID) Wing of Rajasthan Police on Wednesday arrested Khemchand (39) and Rajesh Bunkar (19) and seized a toy pistol used by accused to threaten people, ATM cards, fake seals and mobile phones from them.
During interrogation, the accused accepted of cheating people with the counterfeit notes, the police said. Earlier, both the accused were wanted in connection with an ATM theft.
Additional Director General of Police (crime) BL Soni informed that special operations were carried out by the CID team constituted under the leadership of Police Inspector Suryaveer Singh after which the accused were held. A case has been registered against the accused in the matter and further investigation is underway.
More instances:
Karnataka: Police seized fake Indian currency notes with the face value of Rs 7 crore in Belagavi; One person arrested, case registered pic.twitter.com/chSueohEjr
¡ª ANI (@ANI) April 18, 2018
#WestBengal: Murshidabad police busted a gang dealing in fake currency and recovered FICN worth Rs 5,96,000 in Rs 2000 notes, three arrested pic.twitter.com/NEicZLUcZ5
¡ª ANI (@ANI) November 18, 2017
Nepal: Kingpin of Fake Indian Currency Notes (FICN) Yunus Ansari & 5 others, including 3 Pak nationals, have been sent to jail by Kathmandu Dist Court. They were arrested on 24 May from Tribhuvan Int'l Airport in Kathmandu, FICN with face value of Rs 7.67 Crore were recovered. pic.twitter.com/barB7Wyrhb
¡ª ANI (@ANI) July 30, 2019
West Bengal: Border Security Force (BSF) apprehended two persons with Fake Indian Currency Notes (FICN) from Malda's Gulapgunj market, recovered 325 notes with face value of Rs 6,50,000 in Rs 2,000 denomination notes pic.twitter.com/Dx9NtcOobz
¡ª ANI (@ANI) December 31, 2017
Coimbatore: Police seized huge quantity of fake Indian currency notes of Rs 2000 denomination; Printing machine, laptop, in and white paper also seized, one person arrested pic.twitter.com/048goMjG02
¡ª ANI (@ANI) June 2, 2018
Chandigarh: One arrested by Haryana Police in possession of Fake Indian Currency Note (FICN) with the face value of Rs 24.60 lakh, on August 30. Accused identified as Rohit alias Raman, a resident of Haryana's Hisar. Case registered. Investigation underway pic.twitter.com/DXEglmCIdN
¡ª ANI (@ANI) August 30, 2019
Nepal Police arrested 4 Pakistanis and 2 Nepalis in possession of Fake Indian Currency Notes (FICN) at Tribhuvan International Airport in Kathmandu earlier today. pic.twitter.com/fLNTkZyaXJ
¡ª ANI (@ANI) May 24, 2019
The failure of Modi government¡¯s much-hyped Demonetisation in putting a full stop to fake notes, which was also among its primary aims, was earlier this debunked by an RBI report, which said the counterfeit instances among substituted notes of Rs 500 and Rs 2000 have also skyrocketed since their inception.
Fake notes among the new design notes of Rs 500 had more than doubled with an increase of 121 per cent whereas those of Rs 2000 also increased by 21.9 than the previous year during 2018-19.
With ANI Inputs
