UP flooded with fake currency: STF
Currency notes of denomination of Rs 500 and Rs 1000 in UP may be fake, reports Masoodul Hasan.india Updated: Nov 24, 2006 21:11 IST
Beware! Currency notes of denomination of Rs 500 and Rs 1000 in your hand may be fake. There is no guarantee of its genuineness even if you are getting it from the bank.
Even currency notes at the ATM could be forged. Because of the superior quality of the counterfeit currency in circulation in UP the bank men are at a loss to identify them.
These startling revelations were made by the IG special task force Jagmohan Singh Yadav during his presentation on "ISI activities" in UP at the senior police officers conference in Lucknow on Friday.
Demonstrating the fake currency notes of Rs 500 and Rs 1000 among IPS officers, which the STF had seized recently from various places in UP, the IG said "qualitatively they are better than original notes". Foxed IPS officers were not able to distinguish between fake and original currency. Yadav said the fake currency was being printed in Quetta (Pakistan) and recently the ISI had pumped Rs 47 crore currency of Rs 500 and Rs 1000 into the state.
The SSP STF SK Bhagat shocked the officers by disclosure that banks were not taking adequate measures to control the circulation of these notes. "Instead of sending fake currency to chest for destruction the private banks have been pushing them back into the market,"Bhagat said and added the possibility of fake notes from ATM could not be ruled out.
Bhagat said the situation was grim and urgent measures were required to control the situation. He said the whole purpose was to derail the Indian economy.
Yadav, debunking the theory that printing was being done within the country, said the STF had confirmed information about dumping of fake currency into UP via Kathmandu and Dhaka. He said ISI had airlifted it from Quetta to Nepal and Bangladesh and from there it was being sent to UP. Whenone senior officer questioned the veracity of the information, Yadav said the STF had no direct proof except what it collected from the Intelligence Bureau or during the interrogation of arrested terrorists.
He said recently the IB had recovered Rs 500 and Rs 1000 notes worth Rs 80 lakh in Kathmandu.
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First Published: Nov 24, 2006 21:11 IST