Six held for fake currency racket in UP | india | Hindustan Times
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Six held for fake currency racket in UP

india Updated: Jan 10, 2009 15:23 IST
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Six people allegedly involved in printing and circulation of fake currency notes were arrested in Uttar Pradesh, the police said on Saturday.

"The six were nabbed on Friday night from a hideout in Premnagar area in Bareilly (some 250 km from Lucknow)," police inspector Chandra Pal Singh told IANS on phone.

The arrested people, who hail from different districts of the state, have confessed to printing and supplying counterfeit currency notes through their "agents" in various parts of Uttar Pradesh and its neighbouring states, including Uttarakhand, Bihar and Jharkhand, Singh added.

Fake currency notes worth Rs 80,000 were seized from them. Several computers and printers used for printing the fake notes were also recovered from the hideout, the police said.

Uttar Pradesh is turning out to be a hub for counterfeit currency notes smuggled purportedly across the porous and largely unguarded border with Nepal, according to the police.

In August last, a Reserve Bank of India team unearthed counterfeit currency amounting to over Rs 5 million from the currency chest of the State Bank of India's Domariaganj branch in Siddharthnagar district.

This followed the arrest of the bank's chief cashier and recovery of a large amount of both genuine and fake currency from his house.