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Police bust fake currency racket in J&K

It is suspected that the currency was being used to fund terrorists as they were mainly of Rs 1000 denomination.

india Updated: Feb 09, 2006 16:05 IST

The police have busted a fake currency racket by arresting a cloth trader in Pulwama district from whom counterfeit notes with face value of Rs 2.93 lakh were recovered, official sources said.

Confirming the arrest and recovery of counterfeit notes, Viplav Kumar, Senior Superintendent of Police, Pulwama, told thepolice that he was now on the hunt for the source of the fake currency racket.

Asked if the money was being used to fund militancy in the state, Kumar said, "It is too premature to comment. Investigations have begun into the case and we will see what comes out of it."

However, sources said that the possibility of the funds being used for funding the Ultras was high as most of the fake currency notes were of Rs 1,000 denomination.

Militants generally carry high denomination notes to avoid undue suspicion while moving around.

First Published: Feb 09, 2006 16:05 IST