The government today said there has been an increase in counterfeit currencies cases reported by country's banks and that it has seized fake Indian currency notes with a face value of over Rs 17 crore in the last three years.
"There has been increase in the number of reports received by the FIU-IND (Financial Intelligence Unit) and also the face value of the counterfeit currency involved," Minister of State for Finance S S Palanimanickam told Rajya Sabha in a written reply.
As per the figures given by him, the face value of counterfeit currency seized was Rs 10.37 crore (2009-10), Rs 6.51 crore (2008-09) and more than Rs 50 lakh during 2007-08.
These cases were reported by public sector, private and private foreign banks.
These banks also filed counterfeit currency reports of 1.27 lakh (2009-10), 35,730 (2008-09) and 8,580 during 2007-08 totalling to 1,72,091 over these three years.
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