Fake notes worth Rs 20 cr seized so far this year: FinMin

Fake currency worth Rs 20.42 crore has been seized this year till November 8 and the government is increasing vigilance to curb transactions of such notes, Parliament was informed today.

Besides, most transactions in fake notes have been reported from private banks, Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.

The government had seized fake notes worth Rs 25.89 crore and Rs 22.98 crore in 2008 and 2009 respectively, he added.

"The steps taken by the government to curb circulation of fake Indian currency notes in the country include stepping up of vigilance by the Border Security Force and Custom authorities to prevent smuggling of fake notes," Meena said.

The government has nominated CBI as the nodal agency to monitor investigation of fake currency notes.

Besides, a high level committee headed by the Union Home Secretary has been constituted to monitor the situation and draw a comprehensive strategy to combat fake currency notes.

Similar bodies have also been set up by various state governments, Meena said.