Fake currency of Rs 12 cr face value detected till Sept

The Reserve Bank has detected 2.64 lakh pieces of fake currency notes with the face value of Rs 12.25 crore up to September this fiscal, Parliament was informed today.

In a written reply in the Lok Sabha, Minister of State for Finance Namo Narain Meena said between April and September 2011, the banking system has detected 2,64,282 pieces of fake currency notes of face value Rs 12,25,70,560.

In the 2010-11 fiscal, 4,35,607 pieces were reported, having face value of Rs 19.01 crore, he added.

Meena further said that RBI, Finance Ministry, Home Ministry, security agencies as well as CBI are working together to address the menace of fake currency notes.

"The works of these agencies are periodically reviewed by a nodal group set up for this purpose. In this context, CBI has also been declared as the nodal agency for coordination with the states and the Directorate of revenue Intelligence has been nominated as the Lead Intelligence Agency for smuggled fake notes," he said.

Besides, National Investigations Agency has been empowered to investigate and prosecute such offences, he said.