How RBI scrap aided fake currency business | kolkata | Hindustan Times
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How RBI scrap aided fake currency business

kolkata Updated: Mar 04, 2015 12:45 IST
HT Correspondent
HT Correspondent
Hindustan Times

The seizure of fake Indian currency notes (FICN) with a face value of Rs. 10 crore has left the special task force (STF) of Kolkata Police baffled and intrigued for more than one reason.

First, the fakes’ high-end quality and their striking similarity with the original stunned experts. They discovered that scrap notes dumped by the Reserve Bank of India (RBI) were procured methodically, and the security threads from them taken out with clinical precision before being implanted in the near-perfect counterfeits.

“In some, the security threads were intact,” an STF officer said, adding, “They look just like the originals. Even the security threads are original. We had to take the opinion of experts who confirmed that they were fakes.”

Some goldsmiths of Domjur were specially assigned to take out the security threads from the original scrap notes. “The quality of the paper used and the ink, dice and the machines used were stateof-the-art,” the officer told HT.

“While the terror angle is being probed, and we have sought the NIA’s assistance too, the STF is writing to the RBI seeking information on its process of disposal of scrap notes and details about those involved in the entire process,” a senior police officer said.

The police have the cell phone call list of Chandrasekhar Jaiswal, the main suspect arrested in the case, and efforts are on to unravel his links with the main operators of the racket. Fake currency notes of foreign countries were also seized during the haul.

Five bags of scrap notes were seized from the Domjur godown of Jaiswal in Howrah. After examination of the notes and Jaiswal’s interrogation, it was learnt that the scrap notes were procured from a contractor of the RBI.

The cyber crime wing of the Kolkata police is trying to retrieve Jaiswal’s emails that includes mails sent through 20 4G dongles. Jaiswal kept in touch with his foreign associates through the Net.

The original designs of Turkish notes, Zimbabwean notes and Euros reached him through email.